Powell Industries (NASDAQ:POWL) Rating Lowered to “Hold” at Zacks Research

Powell Industries (NASDAQ:POWLGet Free Report) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts also recently commented on the stock. Glj Research initiated coverage on shares of Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target on the stock. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a report on Friday, March 27th. Cantor Fitzgerald upped their price target on shares of Powell Industries from $160.00 to $320.00 and gave the company a “neutral” rating in a report on Monday. Weiss Ratings upgraded shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.67.

View Our Latest Analysis on Powell Industries

Powell Industries Stock Down 4.3%

Powell Industries stock opened at $308.05 on Monday. The company’s 50-day moving average price is $215.09 and its 200-day moving average price is $162.15. Powell Industries has a twelve month low of $54.75 and a twelve month high of $328.00. The company has a market cap of $11.22 billion, a PE ratio of 60.28, a price-to-earnings-growth ratio of 4.21 and a beta of 1.14.

Powell Industries (NASDAQ:POWLGet Free Report) last posted its earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The business had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same quarter last year, the firm earned $3.81 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts expect that Powell Industries will post 5.47 earnings per share for the current fiscal year.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 149,334 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $167.41, for a total value of $25,000,004.94. Following the completion of the sale, the insider owned 1,796,082 shares of the company’s stock, valued at approximately $300,682,087.62. This represents a 7.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brett Alan Cope sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $233.96, for a total transaction of $1,038,782.40. Following the completion of the sale, the chief executive officer directly owned 164,851 shares of the company’s stock, valued at $38,568,539.96. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 216,738 shares of company stock valued at $38,231,123. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently modified their holdings of the business. Greenline Wealth Management LLC purchased a new stake in shares of Powell Industries in the 4th quarter worth approximately $29,000. Avanza Fonder AB purchased a new stake in shares of Powell Industries in the 4th quarter worth approximately $30,000. State of Wyoming purchased a new stake in shares of Powell Industries in the 2nd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC lifted its position in shares of Powell Industries by 126.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 63 shares during the period. Finally, First Horizon Corp purchased a new stake in shares of Powell Industries in the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries News Summary

Here are the key news stories impacting Powell Industries this week:

About Powell Industries

(Get Free Report)

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.

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Analyst Recommendations for Powell Industries (NASDAQ:POWL)

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