Powell Industries (NASDAQ:POWL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Powell Industries (NASDAQ:POWLGet Free Report) had its price target raised by equities researchers at JPMorgan Chase & Co. from $310.00 to $360.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 12.39% from the stock’s previous close.

POWL has been the subject of a number of other reports. Glj Research assumed coverage on Powell Industries in a report on Thursday, March 5th. They set a “hold” rating and a $150.00 price target for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a research note on Friday, April 24th. Texas Capital raised Powell Industries to a “strong-buy” rating in a research note on Friday, March 27th. Wall Street Zen lowered Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Zacks Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $196.75.

View Our Latest Stock Analysis on Powell Industries

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $25.61 during mid-day trading on Wednesday, reaching $320.30. 1,090,095 shares of the company’s stock were exchanged, compared to its average volume of 781,830. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of 62.68, a PEG ratio of 3.46 and a beta of 1.14. Powell Industries has a 52-week low of $54.75 and a 52-week high of $325.94. The company’s 50-day moving average is $201.83 and its 200-day moving average is $155.11.

Powell Industries (NASDAQ:POWLGet Free Report) last released its quarterly earnings results on Monday, May 4th. The industrial products company reported $1.25 earnings per share for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.09). The business had revenue of $296.62 million for the quarter, compared to analysts’ expectations of $298.12 million. Powell Industries had a return on equity of 29.44% and a net margin of 16.51%.The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.81 earnings per share. As a group, equities analysts predict that Powell Industries will post 5.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Powell Industries news, EVP Michael William Metcalf sold 9,000 shares of the stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $176.00, for a total value of $1,584,000.00. Following the sale, the executive vice president owned 83,400 shares of the company’s stock, valued at $14,678,400. This trade represents a 9.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Thomas W. Powell sold 149,334 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $167.41, for a total value of $25,000,004.94. Following the completion of the sale, the insider directly owned 1,796,082 shares in the company, valued at $300,682,087.62. This represents a 7.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 248,688 shares of company stock worth $44,535,053 over the last 90 days. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in POWL. Greenline Wealth Management LLC purchased a new position in shares of Powell Industries in the 4th quarter valued at about $29,000. Avanza Fonder AB purchased a new position in Powell Industries during the 4th quarter worth approximately $30,000. State of Wyoming purchased a new position in Powell Industries during the 2nd quarter worth approximately $33,000. Steward Partners Investment Advisory LLC grew its stake in Powell Industries by 126.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 113 shares of the industrial products company’s stock worth $36,000 after buying an additional 63 shares during the last quarter. Finally, First Horizon Corp purchased a new position in Powell Industries during the 4th quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Trending Headlines about Powell Industries

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Powell Industries Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Powell Industries (NASDAQ:POWL)

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