Powell Industries (NASDAQ:POWL) Stock Rating Upgraded by Glj Research

Powell Industries (NASDAQ:POWL) was upgraded by Glj Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

POWL has been the subject of a number of other research reports. Zacks Research downgraded shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. Weiss Ratings raised shares of Powell Industries from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Texas Capital upgraded shares of Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Finally, Cantor Fitzgerald lifted their price target on Powell Industries from $160.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Powell Industries presently has an average rating of “Buy” and an average price target of $236.67.

Powell Industries Trading Up 5.4%

NASDAQ POWL opened at $247.01 on Tuesday. Powell Industries has a 12 month low of $69.00 and a 12 month high of $328.00. The stock has a 50 day moving average of $280.08 and a 200-day moving average of $215.02. The company has a market cap of $9.00 billion, a PE ratio of 48.34, a PEG ratio of 3.06 and a beta of 1.13.

Powell Industries (NASDAQ:POWL) last issued 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 firm had revenue of $296.62 million for the quarter, compared to analyst estimates of $298.12 million. During the same quarter in the previous year, the firm posted $3.81 earnings per share. Powell Industries’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts predict that Powell Industries will post 5.47 EPS for the current fiscal year.

Insider Activity at Powell Industries

In related news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael William Metcalf sold 4,500 shares of Powell Industries stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the sale, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. The trade was a 5.40% 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. Insiders have sold a total of 55,088 shares of company stock worth $16,070,066 in the last quarter. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently made changes to their positions in the company. Capital World Investors bought a new stake in shares of Powell Industries in the fourth quarter valued at about $20,704,000. Hudson Bay Capital Management LP acquired a new position in shares of Powell Industries in the third quarter valued at about $3,098,000. Voss Capital LP increased its position in Powell Industries by 18.6% during the fourth quarter. Voss Capital LP now owns 350,000 shares of the industrial products company’s stock worth $111,573,000 after acquiring an additional 55,000 shares during the period. State of New Jersey Common Pension Fund D bought a new position in Powell Industries during the fourth quarter worth about $2,137,000. Finally, Rock Creek Group LP raised its stake in Powell Industries by 1,900.0% in the 4th quarter. Rock Creek Group LP now owns 150,000 shares of the industrial products company’s stock worth $47,817,000 after purchasing an additional 142,500 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

About Powell Industries

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.