Powell Industries (NASDAQ:POWL) Cut to “Neutral” at Sidoti

Powell Industries (NASDAQ:POWL) was downgraded by equities researchers at Sidoti from a “buy” rating to a “neutral” rating in a report released on Tuesday, The Fly reports.

Several other equities analysts have also issued reports on POWL. ValuEngine lowered Powell Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BidaskClub upgraded Powell Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, TheStreet raised Powell Industries from a “c+” rating to a “b-” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Powell Industries presently has a consensus rating of “Hold” and an average target price of $38.00.

Shares of POWL opened at $41.07 on Tuesday. The firm has a 50 day simple moving average of $39.58 and a two-hundred day simple moving average of $37.69. Powell Industries has a one year low of $22.55 and a one year high of $42.88. The company has a market cap of $481.06 million, a P/E ratio of 88.49 and a beta of 1.22.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Powell Industries during the third quarter worth $46,000. Meeder Asset Management Inc. acquired a new position in shares of Powell Industries during the third quarter worth $62,000. Bank of Montreal Can lifted its stake in shares of Powell Industries by 45.2% in the 2nd quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 750 shares during the last quarter. KBC Group NV bought a new position in shares of Powell Industries in the 2nd quarter valued at $106,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Powell Industries during the 3rd quarter valued at $114,000. 66.57% of the stock is owned by institutional investors and hedge funds.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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