Powell Industries (NASDAQ:POWL) Coverage Initiated at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Powell Industries (NASDAQ:POWL) in a research note issued on Friday, MarketBeat reports. The firm set a “neutral” rating and a $427.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 2.17% from the company’s previous close.

A number of other analysts have also weighed in on the company. Roth Mkm restated a “buy” rating and set a $350.00 target price on shares of Powell Industries in a report on Wednesday, November 19th. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Finally, Wall Street Zen cut Powell Industries from a “buy” rating to a “hold” rating in a research note on Monday, January 19th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $388.50.

Powell Industries Price Performance

Shares of Powell Industries stock opened at $417.95 on Friday. Powell Industries has a 1 year low of $146.02 and a 1 year high of $446.11. The firm’s 50-day moving average is $347.68 and its two-hundred day moving average is $309.70. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.96 and a beta of 0.86.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, November 18th. The industrial products company reported $4.22 EPS 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 business had revenue of $297.98 million during the quarter, compared to analyst estimates of $292.85 million. During the same quarter in the previous year, the business 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 Transactions at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $331.73, for a total transaction of $995,190.00. Following the transaction, the vice president directly 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 sale was disclosed in a filing with the SEC, which is available at this link. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Powell Industries

A number of large investors have recently modified their holdings of POWL. Royal Bank of Canada raised its position in shares of Powell Industries by 1.5% in 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 purchasing an additional 461 shares during the last quarter. NewEdge Advisors LLC increased its stake in 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 purchasing an additional 461 shares in the last quarter. Jones Financial Companies Lllp raised 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 worth $236,000 after buying an additional 1,282 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Powell Industries by 4.8% during 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 buying an additional 1,311 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Powell Industries by 9.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,122 shares of the industrial products company’s stock valued at $462,000 after buying an additional 184 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.