Powell Industries’ (POWL) “Neutral” Rating Reiterated at Cantor Fitzgerald

Powell Industries (NASDAQ:POWL)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a note issued to investors on Thursday, MarketBeat Ratings reports. They currently have a $235.00 target price on the industrial products company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 23.74% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two investment 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. According to data from MarketBeat.com, Powell Industries has a consensus rating of “Moderate Buy” and an average price target of $215.42.

Powell Industries Stock Up 3.0%

Shares of NASDAQ:POWL traded up $5.44 during trading on Thursday, hitting $189.91. 166,908 shares of the company traded hands, compared to its average volume of 721,638. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 2.51 and a beta of 1.18. The business’s fifty day moving average is $194.72 and its 200-day moving average is $231.62. Powell Industries has a one year low of $92.59 and a one 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). The firm had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same period last year, the firm posted $3.96 EPS. On average, analysts forecast that Powell Industries will post 5.36 EPS for the current year.

Insider Activity

In related news, CEO Brett Cope sold 4,440 shares of Powell Industries stock in a transaction 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 transaction, the chief executive officer directly owned 517,233 shares in the company, valued at $124,937,631.15. The trade was a 0.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in shares of Powell Industries in the second quarter worth about $1,033,376,000. Janus Henderson Group PLC grew its holdings in shares of Powell Industries by 55.1% during the 1st quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company’s stock valued at $121,643,000 after acquiring an additional 79,932 shares in the last quarter. Voss Capital LP lifted its holdings in shares of Powell Industries by 18.6% during the 4th 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 last quarter. Jupiter Topco LLC bought a new position in shares of Powell Industries during the 2nd quarter valued at $93,845,000. Finally, GW&K Investment Management LLC raised its holdings in shares of Powell Industries by 13.4% during the 4th 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 currently 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.