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

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

A number of other equities research analysts also recently issued reports on POWL. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Capital reiterated a “buy” rating and set a $350.00 target price 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, the stock presently has a consensus rating of “Buy” and an average target price of $350.00.

Powell Industries Price Performance

Shares of POWL opened at $428.29 on Monday. The firm has a market capitalization of $5.20 billion, a P/E ratio of 28.84, a PEG ratio of 1.97 and a beta of 0.86. Powell Industries has a one year low of $146.02 and a one year high of $446.11. The business has a fifty day moving average of $342.63 and a 200 day moving average of $306.01.

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

Insider Buying and Selling

In other Powell Industries news, VP William Marshall Mauney, Jr. sold 3,000 shares of the stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Powell Industries

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Powell Industries by 1.5% during the 1st quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock valued at $5,251,000 after buying an additional 461 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Powell Industries by 7.9% during the 1st quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company’s stock valued at $1,075,000 after acquiring an additional 461 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Powell Industries by 1,221.0% in the first quarter. Jones Financial Companies Lllp now owns 1,387 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Powell Industries by 4.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 28,423 shares of the industrial products company’s stock worth $4,841,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Powell Industries during the first quarter valued at $290,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.