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

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

A number of other research firms also recently weighed in on POWL. Roth Mkm reaffirmed a “buy” rating and set a $350.00 price target on shares of Powell Industries in a research note on Wednesday, November 19th. Cantor Fitzgerald boosted their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Glj Research began coverage on Powell Industries in a report on Thursday. They set a “hold” rating and a $450.00 price objective for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, Powell Industries presently has an average rating of “Moderate Buy” and an average price target of $427.00.

Powell Industries Price Performance

Powell Industries stock opened at $483.65 on Friday. The stock has a market capitalization of $5.87 billion, a P/E ratio of 31.43, a P/E/G ratio of 2.20 and a beta of 0.82. Powell Industries has a 12-month low of $152.40 and a 12-month high of $612.50. The firm’s 50-day moving average is $465.25 and its two-hundred day moving average is $370.79.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, beating analysts’ consensus estimates of $2.85 by $0.55. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The business had revenue of $251.18 million during the quarter, compared to analyst estimates of $255.34 million. During the same quarter in the previous year, the business posted $2.86 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. As a group, analysts forecast that Powell Industries will post 13.71 EPS for the current year.

Insiders Place Their Bets

In other Powell Industries news, insider Ping Ni sold 70 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $590.00, for a total transaction of $41,300.00. Following the transaction, the insider directly owned 2,023 shares in the company, valued at $1,193,570. This represents a 3.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William Marshall Mauney, Jr. sold 3,000 shares of the 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 in the company, valued at $1,476,530.23. The trade was a 40.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 30,158 shares of company stock valued at $17,160,352. Corporate insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

A number of institutional investors have recently modified their holdings of the business. Greenline Wealth Management LLC acquired a new stake in shares of Powell Industries in the 4th quarter worth about $29,000. Avanza Fonder AB acquired a new position in Powell Industries during the 4th quarter valued at about $30,000. Elevation Point Wealth Partners LLC bought a new position in Powell Industries in the 2nd quarter worth about $33,000. State of Wyoming bought a new position in Powell Industries in the 2nd quarter worth about $33,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Powell Industries by 126.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 63 shares during the period. 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.