Powell Industries (NASDAQ:POWL) Stock Price Target Lowered at JPMorgan Chase & Co.

Powell Industries (NASDAQ:POWL) had its price target decreased by analysts at JPMorgan Chase & Co. from $300.00 to $250.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has an “overweight” rating on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 35.67% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Glj Research raised Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $235.00 price objective on shares of Powell Industries in a research report on Thursday, October 1st. Finally, Weiss Ratings lowered Powell Industries from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $187.92.

Powell Industries Price Performance

Shares of Powell Industries stock traded down $1.10 during midday trading on Tuesday, hitting $184.28. The company had a trading volume of 296,508 shares, compared to its average volume of 714,899. The stock has a market cap of $6.71 billion, a PE ratio of 35.36, a P/E/G ratio of 2.00 and a beta of 1.17. Powell Industries has a 1-year low of $92.59 and a 1-year high of $328.00. The business’s 50 day simple moving average is $191.42 and its two-hundred day simple moving average is $232.75.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%. The company had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. During the same quarter in the prior year, the business earned $3.96 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts expect that Powell Industries will post 5.36 EPS for the current fiscal year.

Insider Activity

In related news, VP Marshall Jr sold 301 shares of the company’s stock in a transaction dated Wednesday, September 30th. The shares were sold at an average price of $187.67, for a total value of $56,488.67. Following the sale, the vice president owned 10,552 shares of the company’s stock, valued at $1,980,293.84. The trade was a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brett Cope sold 4,799 shares of the stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $900,628.33. Following the completion of the transaction, the chief executive officer directly owned 507,934 shares of the company’s stock, valued at $95,323,973.78. This trade represents a 0.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

A number of hedge funds have recently modified their holdings of POWL. GAMMA Investing LLC increased its position in shares of Powell Industries by 6.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,773 shares of the industrial products company’s stock worth $512,000 after purchasing an additional 170 shares in the last quarter. Valeo Financial Advisors LLC boosted its position in Powell Industries by 13.4% in the third quarter. Valeo Financial Advisors LLC now owns 4,349 shares of the industrial products company’s stock valued at $802,000 after buying an additional 515 shares in the last quarter. Whalen Wealth Management Inc. boosted its position in Powell Industries by 51.8% in the third quarter. Whalen Wealth Management Inc. now owns 1,386 shares of the industrial products company’s stock valued at $256,000 after buying an additional 473 shares in the last quarter. Ausbil Investment Management Ltd grew its stake in Powell Industries by 133.4% during the third quarter. Ausbil Investment Management Ltd now owns 15,682 shares of the industrial products company’s stock worth $2,893,000 after buying an additional 8,963 shares during the last quarter. Finally, Venture Visionary Partners LLC grew its stake in Powell Industries by 6.8% during the third quarter. Venture Visionary Partners LLC now owns 82,477 shares of the industrial products company’s stock worth $15,215,000 after buying an additional 5,230 shares during the last quarter. 89.77% of the stock is owned by institutional investors and hedge funds.

Powell Industries Company Profile

Powell Industries, Inc designs, manufactures and services equipment used to control, monitor and distribute electrical power. Its products include medium-voltage and low-voltage switchgear, motor control centers, electrical control panels, power-control rooms, bus systems and related protection and control equipment. The company also provides engineered electrical systems, field services, equipment modernization, installation support and commissioning services.

Powell serves customers in industries that require reliable and specialized electrical infrastructure, including oil and gas, petrochemical and chemical processing, utilities, mining, transportation, commercial facilities and renewable energy.