Powell Industries (NASDAQ:POWL) Upgraded by Wall Street Zen to “Buy” Rating

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

Other research analysts have also recently issued research reports about the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Roth Capital reissued a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Powell Industries presently has an average rating of “Buy” and an average target price of $350.00.

Powell Industries Trading Up 1.6%

POWL opened at $365.49 on Friday. Powell Industries has a 12 month low of $146.02 and a 12 month high of $413.00. The business’s 50-day moving average price is $338.30 and its 200-day moving average price is $295.59. The company has a market cap of $4.44 billion, a P/E ratio of 24.61, a P/E/G ratio of 1.71 and a beta of 0.86.

Powell Industries (NASDAQ:POWL) last issued its earnings results 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. The company had revenue of $297.98 million during the quarter, compared to analysts’ expectations of $292.85 million. Powell Industries had a return on equity of 31.80% and a net margin of 16.37%.Powell Industries’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $3.77 EPS. Equities research analysts forecast that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Insider Transactions at Powell Industries

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of the sale, the vice president directly owned 4,451 shares of the company’s stock, valued at approximately $1,476,530.23. This trade represents a 40.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Institutional investors have recently bought and sold shares of the stock. Kovitz Investment Group Partners LLC lifted its holdings in Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after buying an additional 686,588 shares during the period. First Trust Advisors LP lifted its stake in shares of Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock valued at $187,479,000 after purchasing an additional 244,051 shares during the period. Voss Capital LP purchased a new position in shares of Powell Industries in the 2nd quarter valued at approximately $38,904,000. Summit Partners Public Asset Management LLC bought a new stake in shares of Powell Industries during the third quarter valued at approximately $43,515,000. Finally, Fisher Asset Management LLC grew its stake in Powell Industries by 49.8% in the third quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock worth $91,594,000 after purchasing an additional 99,857 shares during the period. 89.77% of the stock is owned by 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.