Zacks: Powell Industries, Inc. (NASDAQ:POWL) Receives Average Rating of “Buy” from Brokerages

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Shares of Powell Industries, Inc. (NASDAQ:POWL) have earned a consensus broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Powell Industries’ rating score has declined by 100% in the last 90 days as a result of a number of analysts’ upgrades and downgrades.

Brokerages have set a twelve-month consensus target price of $38.00 for the company, according to Zacks. Zacks has also given Powell Industries an industry rank of 217 out of 255 based on the ratings given to its competitors.

A number of equities research analysts recently weighed in on the stock. Sidoti lowered shares of Powell Industries from a “buy” rating to a “neutral” rating in a report on Tuesday. BidaskClub upgraded shares of Powell Industries from a “sell” rating to a “hold” rating in a report on Friday, November 1st. TheStreet upgraded shares of Powell Industries from a “c+” rating to a “b-” rating in a report on Monday, November 4th. Finally, ValuEngine lowered shares of Powell Industries from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd.

A number of institutional investors and hedge funds have recently made changes to their positions in POWL. Millennium Management LLC lifted its holdings in Powell Industries by 91.5% during the 3rd quarter. Millennium Management LLC now owns 155,907 shares of the industrial products company’s stock valued at $6,103,000 after buying an additional 74,486 shares in the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Powell Industries in the 2nd quarter valued at about $2,345,000. Renaissance Technologies LLC raised its holdings in shares of Powell Industries by 13.1% in the 2nd quarter. Renaissance Technologies LLC now owns 464,334 shares of the industrial products company’s stock valued at $17,645,000 after purchasing an additional 53,734 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Powell Industries by 2.7% in the 2nd quarter. BlackRock Inc. now owns 1,317,808 shares of the industrial products company’s stock valued at $50,078,000 after purchasing an additional 34,655 shares in the last quarter. Finally, Mackay Shields LLC raised its holdings in shares of Powell Industries by 147.0% in the 3rd quarter. Mackay Shields LLC now owns 49,400 shares of the industrial products company’s stock valued at $1,934,000 after purchasing an additional 29,400 shares in the last quarter. Institutional investors own 66.57% of the company’s stock.

Shares of Powell Industries stock traded down $0.24 during trading on Wednesday, hitting $39.56. The stock had a trading volume of 74,657 shares, compared to its average volume of 42,879. Powell Industries has a 12 month low of $22.55 and a 12 month high of $42.88. The firm’s fifty day simple moving average is $39.62 and its 200-day simple moving average is $37.71. The stock has a market cap of $457.59 million, a PE ratio of 88.49 and a beta of 1.22.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.04 dividend on an annualized basis and a yield of 2.63%.

Powell Industries Company Profile

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. The company's principal products include integrated power control room substations, custom-engineered modules, electrical houses, medium-voltage circuit breakers, monitoring and control communications systems, motor control centers, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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