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

Key Points

• JPMorgan lowered Powell Industries’ price target from $300 to $250 while maintaining an “overweight” rating, implying approximately 35.7% upside from the reported share price.
• Analyst sentiment remains positive overall, with MarketBeat reporting a consensus “Moderate Buy” rating and an average target price of $187.92, despite mixed individual ratings.
• Powell shares fell 0.6% to $184.28; the company recently missed quarterly EPS and revenue estimates, although revenue increased 8.9% year over year.

Powell Industries (NASDAQ:POWL - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $300.00 to $250.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an "overweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective suggests a potential upside of 35.67% from the stock's current price.

Several other analysts also recently weighed in on the company. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $235.00 target price on shares of Powell Industries in a research note on Thursday, October 1st. Weiss Ratings lowered Powell Industries from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 19th. Finally, Glj Research upgraded shares of Powell Industries from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $187.92.

Powell Industries Trading Down 0.6%

NASDAQ:POWL traded down $1.10 during mid-day trading on Tuesday, hitting $184.28. The stock had a trading volume of 296,508 shares, compared to its average volume of 714,899. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 35.36, a P/E/G ratio of 2.00 and a beta of 1.17. The company has a 50 day simple moving average of $191.42 and a 200-day simple moving average of $232.75. Powell Industries has a 52 week low of $92.59 and a 52 week high of $328.00.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.07). The firm had revenue of $311.74 million during the quarter, compared to analyst estimates of $316.70 million. Powell Industries had a net margin of 16.49% and a return on equity of 27.51%. Powell Industries's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.96 EPS. As a group, equities research analysts anticipate that Powell Industries will post 5.36 earnings per share for the current year.

Insider Buying and Selling at Powell Industries

In related news, VP William Marshall Mauney, Jr. sold 301 shares of the firm's stock in a transaction dated Wednesday, September 30th. The stock was sold at an average price of $187.67, for a total transaction of $56,488.67. Following the completion of the transaction, the vice president owned 10,552 shares of the company's stock, valued at $1,980,293.84. This trade represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brett Cope sold 4,799 shares of the business's 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 sale, the chief executive officer owned 507,934 shares in the company, valued at approximately $95,323,973.78. This trade represents a 0.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.20% of the stock is currently owned by company insiders.

Institutional Trading of Powell Industries

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new position in shares of Powell Industries in the second quarter worth approximately $1,033,376,000. Janus Henderson Group PLC grew its stake in Powell Industries by 55.1% in the first quarter. Janus Henderson Group PLC now owns 224,966 shares of the industrial products company's stock valued at $121,643,000 after purchasing an additional 79,932 shares in the last quarter. Jupiter Topco LLC acquired a new position in Powell Industries in the second quarter worth approximately $93,845,000. Tidal Investments LLC raised its holdings in shares of Powell Industries by 222.3% during the 2nd quarter. Tidal Investments LLC now owns 282,483 shares of the industrial products company's stock valued at $80,892,000 after purchasing an additional 194,840 shares in the last quarter. Finally, Tema ETFs LLC boosted its stake in shares of Powell Industries by 217.3% during the 2nd quarter. Tema ETFs LLC now owns 268,692 shares of the industrial products company's stock worth $76,943,000 after acquiring an additional 184,010 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

About Powell Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.