Powell Industries, Inc. (NASDAQ:POWL) Short Interest Update

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Powell Industries, Inc. (NASDAQ:POWL) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 182,900 shares, a decrease of 10.6% from the November 14th total of 204,500 shares. Based on an average daily trading volume, of 65,900 shares, the short-interest ratio is currently 2.8 days. Currently, 2.1% of the company’s shares are sold short.

Several equities research analysts have recently weighed in on the company. BidaskClub raised Powell Industries from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. ValuEngine cut Powell Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Sidoti cut Powell Industries from a “buy” rating to a “neutral” rating and increased their price target for the company from $45.00 to $47.00 in a research note on Tuesday, December 3rd. Finally, TheStreet raised Powell Industries from a “c+” rating to a “b-” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $47.00.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC acquired a new stake in Powell Industries during the third quarter worth approximately $46,000. Meeder Asset Management Inc. acquired a new stake in Powell Industries during the third quarter worth approximately $62,000. Bank of Montreal Can grew its stake in Powell Industries by 45.2% during the second quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock worth $92,000 after purchasing an additional 750 shares during the period. Pacer Advisors Inc. acquired a new stake in Powell Industries during the third quarter worth approximately $114,000. Finally, Aperio Group LLC acquired a new stake in Powell Industries during the second quarter worth approximately $134,000. 66.57% of the stock is owned by institutional investors and hedge funds.

NASDAQ POWL traded down $0.96 during trading hours on Friday, hitting $49.09. 105,200 shares of the company’s stock were exchanged, compared to its average volume of 90,652. The stock has a 50-day simple moving average of $41.59 and a 200 day simple moving average of $38.30. Powell Industries has a 1-year low of $22.55 and a 1-year high of $50.78. The firm has a market cap of $568.95 million, a price-to-earnings ratio of 57.98 and a beta of 1.22.

Powell Industries (NASDAQ:POWL) last released its earnings results on Wednesday, December 4th. The industrial products company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.38 by $0.17. Powell Industries had a return on equity of 3.35% and a net margin of 1.91%. The business had revenue of $148.50 million during the quarter, compared to analysts’ expectations of $139.04 million. During the same quarter last year, the firm posted $0.13 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, November 20th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.04 annualized dividend and a yield of 2.12%.

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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