Powell Industries (NASDAQ:POWL) Cut to Hold at StockNews.com

Powell Industries (NASDAQ:POWL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

Powell Industries Stock Performance

Shares of NASDAQ POWL traded up $1.61 during trading hours on Tuesday, hitting $218.31. The stock had a trading volume of 373,965 shares, compared to its average volume of 364,859. The company has a market capitalization of $2.62 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.01 and a beta of 0.87. The firm’s 50-day moving average price is $163.47 and its two-hundred day moving average price is $157.49. Powell Industries has a 52 week low of $72.51 and a 52 week high of $223.23.

Powell Industries (NASDAQ:POWL) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 EPS for the quarter, topping the consensus estimate of $2.16 by $1.63. Powell Industries had a net margin of 13.77% and a return on equity of 33.09%. The company had revenue of $288.17 million for the quarter, compared to analyst estimates of $222.18 million. During the same quarter in the prior year, the business posted $1.52 EPS. Powell Industries’s quarterly revenue was up 49.8% on a year-over-year basis. As a group, analysts expect that Powell Industries will post 12.01 EPS for the current fiscal year.

Insider Activity

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $142.31, for a total transaction of $391,352.50. Following the completion of the sale, the chief executive officer now owns 148,737 shares of the company’s stock, valued at $21,166,762.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director James W. Mcgill sold 6,600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $185.84, for a total value of $1,226,544.00. Following the sale, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $142.31, for a total value of $391,352.50. Following the completion of the transaction, the chief executive officer now owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,100 shares of company stock valued at $2,224,552. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cim LLC acquired a new position in shares of Powell Industries during the second quarter worth approximately $222,000. Dana Investment Advisors Inc. acquired a new position in Powell Industries during the 2nd quarter valued at $1,460,000. Quarry LP bought a new stake in Powell Industries in the 2nd quarter valued at $48,000. Invst LLC grew its position in Powell Industries by 55.3% in the 2nd quarter. Invst LLC now owns 4,201 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 1,496 shares during the last quarter. Finally, Creative Planning bought a new position in shares of Powell Industries during the 2nd quarter worth about $310,000. Institutional investors and hedge funds own 89.77% of the company’s stock.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems. 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, switches, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.