Powell Industries (NASDAQ:POWL) Earns Neutral Rating from Cantor Fitzgerald

Powell Industries (NASDAQ:POWL)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued to clients and investors on Thursday, Marketbeat reports. They currently have a $235.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 23.29% from the company’s previous close.

Several other brokerages have also recently issued reports on POWL. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Weiss Ratings lowered shares of 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 issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $215.42.

Powell Industries Stock Up 3.3%

NASDAQ POWL traded up $6.13 during trading on Thursday, hitting $190.60. The stock had a trading volume of 466,523 shares, compared to its average volume of 723,295. The firm has a 50 day moving average price of $194.72 and a 200 day moving average price of $231.62. The company has a market capitalization of $6.94 billion, a PE ratio of 36.58, a PEG ratio of 2.51 and a beta of 1.18. Powell Industries has a twelve month low of $92.59 and a twelve month high of $328.00.

Powell Industries (NASDAQ:POWL) last announced 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 company had revenue of $311.74 million during the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 EPS. On average, sell-side analysts anticipate that Powell Industries will post 5.36 earnings per share for the current year.

Insider Transactions at Powell Industries

In related 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 value 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 $124,937,631.15. This represents a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in Powell Industries in the second quarter valued at approximately $1,033,376,000. Janus Henderson Group PLC boosted its holdings in 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 purchasing an additional 79,932 shares in the last quarter. Voss Capital LP boosted its holdings in 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 purchasing an additional 55,000 shares in the last quarter. Jupiter Topco LLC acquired a new position in Powell Industries in the second quarter valued at approximately $93,845,000. Finally, GW&K Investment Management LLC boosted its holdings in 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 purchasing an additional 30,013 shares in the last quarter. 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.