Cantor Fitzgerald Begins Coverage on Powell Industries (NASDAQ:POWL)

Research analysts at Cantor Fitzgerald began coverage on shares of Powell Industries (NASDAQ:POWL) in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $427.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 0.03% from the company’s previous close.

Other analysts also recently issued research reports about the company. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday. Roth Mkm reissued a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $388.50.

Powell Industries Price Performance

Shares of NASDAQ:POWL opened at $426.87 on Friday. The firm has a fifty day moving average price of $345.92 and a two-hundred day moving average price of $307.65. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 28.75, a PEG ratio of 1.97 and a beta of 0.86. Powell Industries has a one year low of $146.02 and a one year high of $446.11.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Tuesday, November 18th. The industrial products company reported $4.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.76 by $0.46. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.The company had revenue of $297.98 million for the quarter, compared to the consensus estimate of $292.85 million. During the same quarter last year, the business posted $3.77 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts expect that Powell Industries will post 13.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of Powell Industries stock in a transaction on Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the sale, the vice president owned 4,451 shares in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Powell Industries

Large investors have recently modified their holdings of the stock. Strong Tower Advisory Services raised its stake in Powell Industries by 2.9% during the fourth quarter. Strong Tower Advisory Services now owns 5,936 shares of the industrial products company’s stock valued at $1,892,000 after buying an additional 169 shares during the last quarter. Carnegie Investment Counsel grew its stake in shares of Powell Industries by 0.3% in the fourth quarter. Carnegie Investment Counsel now owns 40,882 shares of the industrial products company’s stock worth $13,032,000 after acquiring an additional 134 shares during the last quarter. Whalen Wealth Management Inc. bought a new position in shares of Powell Industries during the fourth quarter valued at $321,000. Tema Etfs LLC raised its position in shares of Powell Industries by 43.6% in the 4th quarter. Tema Etfs LLC now owns 76,338 shares of the industrial products company’s stock worth $24,335,000 after purchasing an additional 23,168 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Powell Industries by 59.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,070 shares of the industrial products company’s stock valued at $660,000 after purchasing an additional 769 shares during 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.