Powell Industries (NASDAQ:POWL – Get Free Report)‘s stock had its “neutral” rating restated by stock analysts at Cantor Fitzgerald in a research note issued on Thursday, Marketbeat Ratings reports. They presently have a $235.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 25.16% from the stock’s previous close.
Several other equities analysts also recently weighed in on the company. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.42.
Read Our Latest Research Report on POWL
Powell Industries Stock Performance
Powell Industries (NASDAQ:POWL – Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). The business had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $3.96 earnings per share. On average, analysts anticipate that Powell Industries will post 5.36 EPS for the current fiscal year.
Insider Transactions at Powell Industries
In other news, CEO Brett Cope sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the transaction, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.20% of the stock is owned by insiders.
Hedge Funds Weigh In On Powell Industries
Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of Powell Industries in the second quarter valued at about $1,033,376,000. Janus Henderson Group PLC lifted its stake in shares of Powell Industries by 55.1% in the first quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company’s stock valued at $121,643,000 after buying an additional 79,932 shares during the period. Voss Capital LP lifted its stake in shares of Powell Industries by 18.6% in the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock valued at $111,573,000 after buying an additional 55,000 shares during the period. Jupiter Topco LLC bought a new stake in shares of Powell Industries in the second quarter valued at about $93,845,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Powell Industries by 13.4% in the fourth quarter. GW&K Investment Management LLC now owns 254,520 shares of the industrial products company’s stock valued at $81,137,000 after buying an additional 30,013 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.
Powell Industries Company Profile
Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.
Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.
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