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

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

POWL has been the subject of several other research reports. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday. Roth Capital reissued a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $350.00.

Powell Industries Stock Up 10.6%

Shares of NASDAQ POWL opened at $352.52 on Friday. Powell Industries has a 12-month low of $146.02 and a 12-month high of $413.00. The firm’s 50-day simple moving average is $340.81 and its 200 day simple moving average is $288.54. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 23.74, a price-to-earnings-growth ratio of 1.49 and a beta of 0.86.

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

Insider Buying and Selling 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 transaction of $995,190.00. Following the completion of the sale, the vice president owned 4,451 shares of the company’s stock, valued at $1,476,530.23. This represents a 40.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its position in shares of Powell Industries by 69.9% in the second quarter. Truist Financial Corp now owns 10,522 shares of the industrial products company’s stock valued at $2,214,000 after buying an additional 4,329 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Powell Industries by 1,010.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 42,607 shares of the industrial products company’s stock valued at $8,949,000 after purchasing an additional 38,769 shares during the last quarter. Cadent Capital Advisors LLC acquired a new stake in Powell Industries during the 3rd quarter valued at $2,061,000. Bosun Asset Management LLC boosted its position in Powell Industries by 19.1% during the second quarter. Bosun Asset Management LLC now owns 20,930 shares of the industrial products company’s stock worth $4,405,000 after purchasing an additional 3,361 shares during the period. Finally, Archon Capital Management LLC raised its position in shares of Powell Industries by 218.1% in the second quarter. Archon Capital Management LLC now owns 12,700 shares of the industrial products company’s stock valued at $2,673,000 after purchasing an additional 8,708 shares during the period. 89.77% of the stock is owned by institutional investors and hedge funds.

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.