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

Powell Industries (NASDAQ:POWL)‘s stock had its “neutral” rating restated by equities research analysts at Cantor Fitzgerald in a report released on Thursday, MarketBeat reports. They currently have a $235.00 price objective on the industrial products company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 24.04% from the stock’s current price.

POWL has been the topic of a number of other research reports. Weiss Ratings downgraded 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 research note on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Powell Industries currently has an average rating of “Moderate Buy” and a consensus price target of $215.42.

Powell Industries Price Performance

Shares of POWL traded up $4.99 during mid-day trading on Thursday, reaching $189.46. The company’s stock had a trading volume of 181,328 shares, compared to its average volume of 721,669. The company’s 50 day moving average is $194.72 and its 200 day moving average is $231.62. The stock has a market cap of $6.90 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.51 and a beta of 1.18. Powell Industries has a 12-month low of $92.59 and a 12-month high of $328.00.

Powell Industries (NASDAQ:POWL) last released its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The firm had revenue of $311.74 million for the quarter, compared to analysts’ expectations of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.96 EPS. As a group, sell-side analysts anticipate that Powell Industries will post 5.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Powell Industries news, CEO Brett Cope sold 4,440 shares of the stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the completion of the sale, the chief executive officer directly owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. This trade represents a 0.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. acquired a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $211,000. Anchor Investment Management LLC lifted its holdings in shares of Powell Industries by 92.9% in the 2nd quarter. Anchor Investment Management LLC now owns 135 shares of the industrial products company’s stock valued at $39,000 after buying an additional 65 shares during the period. SkyView Investment Advisors LLC acquired a new stake in shares of Powell Industries in the 2nd quarter valued at approximately $215,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Powell Industries by 205.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,751 shares of the industrial products company’s stock valued at $501,000 after buying an additional 1,177 shares during the period. Finally, Tidal Investments LLC lifted its holdings in shares of Powell Industries by 222.3% in the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company’s stock valued at $80,892,000 after buying an additional 194,840 shares during the period. 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.