Powell Industries (NASDAQ:POWL) Given New $235.00 Price Target at Cantor Fitzgerald

Powell Industries (NASDAQ:POWL) had its price objective dropped by equities research analysts at Cantor Fitzgerald from $320.00 to $235.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 15.17% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research downgraded Powell Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price objective on Powell Industries from $310.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Weiss Ratings downgraded Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Powell Industries currently has an average rating of “Buy” and an average price target of $215.42.

Powell Industries Stock Down 1.9%

Shares of NASDAQ POWL opened at $204.04 on Friday. The firm has a 50-day simple moving average of $249.16 and a 200-day simple moving average of $228.58. The stock has a market capitalization of $7.43 billion, a price-to-earnings ratio of 39.16, a price-to-earnings-growth ratio of 2.78 and a beta of 1.18. Powell Industries has a 52 week low of $78.50 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). The business had revenue of $311.74 million for the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.96 earnings per share. As a group, equities research analysts expect that Powell Industries will post 5.34 EPS for the current year.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of the company’s stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $294.49, for a total value of $10,000,291.42. Following the transaction, the insider owned 564,736 shares of the company’s stock, valued at $166,309,104.64. This represents a 5.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael William Metcalf sold 4,500 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $284.64, for a total transaction of $1,280,880.00. Following the transaction, the executive vice president directly owned 78,900 shares of the company’s stock, valued at $22,458,096. The trade was a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,898 shares of company stock valued at $12,353,653 over the last quarter. 2.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Powell Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada increased its stake in Powell Industries by 1.5% during the first quarter. Royal Bank of Canada now owns 30,830 shares of the industrial products company’s stock worth $5,251,000 after purchasing an additional 461 shares during the period. NewEdge Advisors LLC boosted its stake in shares of Powell Industries by 7.9% in the first 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 during the period. Jones Financial Companies Lllp grew 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 valued at $236,000 after purchasing an additional 1,282 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Powell Industries by 4.8% in 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 valued at $4,841,000 after purchasing an additional 1,311 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Powell Industries by 6.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company’s stock worth $6,548,000 after buying an additional 1,822 shares during the period. 89.77% of the stock is currently owned by hedge funds and other institutional investors.

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.