Cantor Fitzgerald Reaffirms Neutral Rating for Powell Industries (NASDAQ:POWL)

Powell Industries (NASDAQ:POWL)‘s stock had its “neutral” rating reiterated by investment analysts at Cantor Fitzgerald in a research note issued on Thursday, Marketbeat reports. They currently have a $235.00 price objective on the industrial products company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 27.39% from the company’s current price.

Several other research analysts have also commented on the stock. Weiss Ratings lowered shares of Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 19th. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $184.47 on Thursday. The stock’s 50-day moving average is $194.72 and its 200 day moving average is $231.62. The company has a market cap of $6.72 billion, a PE ratio of 35.41, a P/E/G ratio of 2.51 and a beta of 1.18. Powell Industries has a 1 year low of $92.59 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same quarter in the prior year, the firm earned $3.96 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. Analysts expect 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 on Thursday, July 9th. The shares were sold at an average price of $241.55, for a total value of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at $124,937,631.15. This represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. PNC Financial Services Group Inc. grew its holdings in Powell Industries by 3.5% in the first quarter. PNC Financial Services Group Inc. now owns 1,009 shares of the industrial products company’s stock valued at $546,000 after purchasing an additional 34 shares during the period. Wealthfront Advisers LLC raised its position in shares of Powell Industries by 5.4% during the 1st quarter. Wealthfront Advisers LLC now owns 697 shares of the industrial products company’s stock valued at $377,000 after buying an additional 36 shares during the period. KBC Group NV boosted its holdings in Powell Industries by 15.6% in the first quarter. KBC Group NV now owns 303 shares of the industrial products company’s stock valued at $164,000 after purchasing an additional 41 shares during the period. Global Retirement Partners LLC raised its position in shares of Powell Industries by 32.5% during the 4th quarter. Global Retirement Partners LLC now owns 253 shares of the industrial products company’s stock worth $81,000 after acquiring an additional 62 shares in the last quarter. Finally, Anchor Investment Management LLC increased its position in Powell Industries by 92.9% during the second quarter. Anchor Investment Management LLC now owns 135 shares of the industrial products company’s stock worth $39,000 after buying an additional 65 shares during the period. Institutional investors and hedge funds own 89.77% of the company’s stock.

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.