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

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 on Monday.

A number of other equities research analysts have also recently commented on POWL. Roth Capital reiterated a “buy” rating and issued a $350.00 target price on shares of Powell Industries in a research report on Wednesday, November 19th. Weiss Ratings reaffirmed 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, According to data from MarketBeat.com, Powell Industries currently has an average rating of “Buy” and a consensus price target of $350.00.

Powell Industries Price Performance

NASDAQ POWL opened at $419.98 on Monday. The stock’s 50 day simple moving average is $340.41 and its 200-day simple moving average is $303.10. The company has a market cap of $5.10 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. Powell Industries has a 1-year low of $146.02 and a 1-year high of $446.11.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS for the quarter, topping the consensus estimate of $3.76 by $0.46. The firm 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%.The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $3.77 earnings per share. On average, equities research analysts anticipate that Powell Industries will post 13.71 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in POWL. State of Wyoming lifted its stake in shares of Powell Industries by 18.5% in the 3rd quarter. State of Wyoming now owns 186 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 29 shares during the period. Ashton Thomas Private Wealth LLC boosted its holdings in Powell Industries by 2.8% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 1,048 shares of the industrial products company’s stock valued at $319,000 after purchasing an additional 29 shares in the last quarter. Arizona State Retirement System increased its position in Powell Industries by 1.1% during the 3rd quarter. Arizona State Retirement System now owns 2,847 shares of the industrial products company’s stock worth $868,000 after purchasing an additional 30 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Powell Industries by 3.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,221 shares of the industrial products company’s stock worth $257,000 after buying an additional 42 shares in the last quarter. Finally, Quest Investment Management LLC lifted its holdings in shares of Powell Industries by 0.9% in the 3rd quarter. Quest Investment Management LLC now owns 5,002 shares of the industrial products company’s stock valued at $1,525,000 after buying an additional 45 shares during the period. 89.77% of the stock is currently 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.