Powell Industries (NASDAQ:POWL) Stock Keeps “Neutral” Rating at Cantor Fitzgerald

Powell Industries (NASDAQ:POWL)‘s stock had its “neutral” rating reiterated by Cantor Fitzgerald in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $235.00 price objective on the industrial products company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 18.78% from the company’s previous close.

Several other research analysts have also recently weighed in on POWL. Weiss Ratings cut Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report 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 assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $215.42.

Powell Industries Stock Up 0.9%

POWL traded up $1.74 during trading on Thursday, reaching $197.84. The company’s stock had a trading volume of 658,470 shares, compared to its average volume of 722,028. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 37.97, a PEG ratio of 2.04 and a beta of 1.17. The firm has a fifty day simple moving average of $192.96 and a two-hundred day simple moving average of $231.97. Powell Industries has a 1 year low of $92.59 and a 1 year high of $328.00.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.07). The company 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 for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.96 earnings per share. As a group, equities analysts forecast that Powell Industries will post 5.36 EPS for the current fiscal year.

Insider Activity

In related news, CEO Brett Cope sold 4,799 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total transaction of $900,628.33. Following the completion of the sale, the chief executive officer directly owned 507,934 shares in the company, valued at approximately $95,323,973.78. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Marshall Jr sold 301 shares of the firm’s stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the sale, the vice president owned 10,552 shares of the company’s stock, valued at approximately $1,980,293.84. The trade was a 2.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 9,540 shares of company stock valued at $2,029,599. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. QRG Capital Management Inc. purchased a new position in Powell Industries during the second quarter worth about $211,000. Anchor Investment Management LLC boosted its stake 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. SkyView Investment Advisors LLC purchased a new position in Powell Industries during the second quarter worth about $215,000. Sequoia Financial Advisors LLC boosted its stake in Powell Industries by 205.1% during the second quarter. Sequoia Financial Advisors LLC now owns 1,751 shares of the industrial products company’s stock worth $501,000 after buying an additional 1,177 shares during the period. Finally, Tidal Investments LLC boosted its stake in Powell Industries by 222.3% during the second quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock worth $80,892,000 after buying an additional 194,840 shares during the period. 89.77% of the stock is currently owned by institutional investors and hedge funds.

About Powell Industries

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.