Powell Industries (NASDAQ:POWL) Reaches New 12-Month High – Should You Buy?

Powell Industries, Inc. (NASDAQ:POWL)’s share price reached a new 52-week high on Tuesday . The company traded as high as $471.79 and last traded at $440.36, with a volume of 456077 shares traded. The stock had previously closed at $443.59.

Wall Street Analysts Forecast Growth

POWL has been the topic of several recent analyst reports. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday, January 19th. Roth Mkm restated a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Cantor Fitzgerald started coverage on shares of Powell Industries in a research report on Friday, January 23rd. They issued a “neutral” rating and a $427.00 price objective for the company. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Powell Industries in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $388.50.

Powell Industries Price Performance

The firm has a market capitalization of $5.35 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.05 and a beta of 0.85. The business has a fifty day moving average price of $364.66 and a two-hundred day moving average price of $319.89.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, beating 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 firm had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the prior year, the firm earned $3.77 earnings per share. Powell Industries’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, research analysts predict that Powell Industries, Inc. will post 13.71 earnings per share for the current year.

Insider Activity at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the 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. This represents a 40.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently added to or reduced their stakes in the business. Avanza Fonder AB purchased a new position in shares of Powell Industries during the 4th quarter valued at about $30,000. First Horizon Corp acquired a new stake in Powell Industries during the fourth quarter worth about $40,000. Elevation Point Wealth Partners LLC purchased a new position in Powell Industries during the second quarter valued at approximately $33,000. State of Wyoming purchased a new position in Powell Industries during the second quarter valued at approximately $33,000. Finally, Manchester Capital Management LLC lifted its holdings in Powell Industries by 42.9% in the second quarter. Manchester Capital Management LLC now owns 200 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 60 shares during the period. 89.77% of the stock is owned by hedge funds and other institutional investors.

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.