Powell Industries (NASDAQ:POWL) Downgraded by Wall Street Zen to Hold

Powell Industries (NASDAQ:POWL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

POWL has been the subject of several other research reports. Cantor Fitzgerald upped their price target on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Glj Research began coverage on Powell Industries in a research report on Thursday. They issued a “hold” rating and a $450.00 target price for the company. Roth Mkm reissued a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $427.00.

Powell Industries Stock Down 3.8%

Shares of Powell Industries stock opened at $483.65 on Friday. The business has a fifty day simple moving average of $465.25 and a 200-day simple moving average of $369.12. Powell Industries has a fifty-two week low of $152.40 and a fifty-two week high of $612.50. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 31.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82.

Powell Industries (NASDAQ:POWL) last issued its earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The firm had revenue of $251.18 million during the quarter, compared to analysts’ expectations of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $2.86 earnings per share. Analysts anticipate that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Insider Transactions at Powell Industries

In related news, insider Ping Ni sold 70 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $590.00, for a total value of $41,300.00. Following the completion of the sale, the insider owned 2,023 shares of the company’s stock, valued at approximately $1,193,570. The trade was a 3.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Treasurer David L. Eckenrode sold 295 shares of the stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $570.00, for a total value of $168,150.00. Following the completion of the transaction, the treasurer owned 443 shares in the company, valued at $252,510. This represents a 39.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 30,158 shares of company stock worth $17,160,352. 2.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Greenline Wealth Management LLC acquired a new position in Powell Industries during the fourth quarter worth $29,000. Avanza Fonder AB acquired a new stake in shares of Powell Industries in the fourth quarter worth about $30,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Powell Industries in the second quarter worth about $33,000. State of Wyoming bought a new stake in shares of Powell Industries during the 2nd quarter worth about $33,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 63 shares in the last quarter. Institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

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.