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

Investment analysts at Cantor Fitzgerald assumed coverage on shares of Powell Industries (NASDAQ:POWL) in a report released on Friday, MarketBeat Ratings reports. The brokerage set a “neutral” rating and a $427.00 price target on the industrial products company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 0.03% from the company’s previous close.

POWL has been the subject of a number of other reports. Weiss Ratings restated a “buy (b-)” rating on shares of Powell Industries in a research report on Monday, December 29th. Roth Mkm restated a “buy” rating and issued a $350.00 price target on shares of Powell Industries in a research report on Wednesday, November 19th. Finally, Wall Street Zen cut shares of Powell Industries from a “buy” rating to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Powell Industries currently has a consensus rating of “Moderate Buy” and a consensus price target of $388.50.

Powell Industries Price Performance

Shares of NASDAQ POWL opened at $426.87 on Friday. Powell Industries has a 1 year low of $146.02 and a 1 year high of $446.11. The firm has a market cap of $5.18 billion, a PE ratio of 28.75, a price-to-earnings-growth ratio of 1.97 and a beta of 0.86. The company has a 50 day simple moving average of $345.92 and a 200 day simple moving average of $307.65.

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 analysts’ consensus estimates of $3.76 by $0.46. The company had revenue of $297.98 million for the quarter, compared to analyst estimates of $292.85 million. Powell Industries had a net margin of 16.37% and a return on equity of 31.80%. Powell Industries’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.77 earnings per share. As a group, research analysts anticipate that Powell Industries will post 13.71 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP William Marshall Mauney, Jr. sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $331.73, for a total value of $995,190.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Powell Industries

Institutional investors have recently bought and sold shares of the company. Kovitz Investment Group Partners LLC raised its stake in shares of Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock valued at $705,475,000 after buying an additional 686,588 shares during the period. First Trust Advisors LP increased its stake in shares of Powell Industries by 65.8% in the third quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after purchasing an additional 244,051 shares in the last quarter. Voss Capital LP purchased a new stake in shares of Powell Industries during the 2nd quarter valued at approximately $38,904,000. Summit Partners Public Asset Management LLC purchased a new position in Powell Industries in the 3rd quarter valued at approximately $43,515,000. Finally, Fisher Asset Management LLC raised its holdings in Powell Industries by 49.8% during the 3rd quarter. Fisher Asset Management LLC now owns 300,496 shares of the industrial products company’s stock valued at $91,594,000 after acquiring an additional 99,857 shares during the period. Hedge funds and other institutional investors own 89.77% of the company’s stock.

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.