Powell Industries (NASDAQ:POWL) Raised to Strong-Buy at Glj Research

Key Points

• Glj Research upgraded Powell Industries from hold to strong-buy, adding to a generally positive analyst view. The stock now has a consensus rating of Buy and a consensus target price of $236.67.
• Powell Industries shares were up 5.4% and opened at $247.01, with the stock trading above its 200-day average but below its 50-day average. The company’s market cap is about $9.0 billion.
• The company recently reported Q2 EPS of $1.25, missing estimates, while revenue came in at $296.62 million, slightly below forecasts but still up 6.5% year over year. Insiders have also been selling shares, including the CEO under a Rule 10b5-1 plan.

Powell Industries (NASDAQ:POWL - Get Free Report) was upgraded by stock analysts at Glj Research from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on POWL. Texas Capital upgraded shares of Powell Industries to a "strong-buy" rating in a research note on Friday, March 27th. Cantor Fitzgerald lifted their target price on shares of Powell Industries from $160.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their target price on shares of Powell Industries from $310.00 to $360.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Zacks Research cut shares of Powell Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, May 11th. Finally, Weiss Ratings raised shares of Powell Industries from a "buy (b-)" rating to a "buy (b)" rating in a research report on Friday, May 8th. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $236.67.

Powell Industries Trading Up 5.4%

Shares of NASDAQ:POWL opened at $247.01 on Tuesday. The stock has a fifty day simple moving average of $280.08 and a two-hundred day simple moving average of $215.02. The stock has a market capitalization of $9.00 billion, a price-to-earnings ratio of 48.34, a PEG ratio of 3.06 and a beta of 1.13. Powell Industries has a 12-month low of $69.00 and a 12-month high of $328.00.

Powell Industries (NASDAQ:POWL - Get Free Report) last released its earnings results on Monday, May 4th. The industrial products company reported $1.25 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.09). Powell Industries had a return on equity of 28.61% and a net margin of 16.51%.The company had revenue of $296.62 million during the quarter, compared to the consensus estimate of $298.12 million. During the same period last year, the firm posted $3.81 earnings per share. The company's revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Powell Industries will post 5.47 EPS for the current year.

Insider Buying and Selling

In other news, VP William Marshall Mauney, Jr. sold 2,500 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $323.69, for a total transaction of $809,225.00. Following the sale, the vice president owned 10,853 shares of the company's stock, valued at $3,513,007.57. This trade represents a 18.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Alan Cope sold 4,440 shares of the firm's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $241.55, for a total transaction of $1,072,482.00. Following the sale, the chief executive officer directly owned 517,233 shares in the company, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 55,088 shares of company stock worth $16,070,066 in the last three months. 2.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in POWL. Royal Bank of Canada increased its position 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 valued at $5,251,000 after acquiring an additional 461 shares during the last quarter. NewEdge Advisors LLC boosted its position in Powell Industries by 7.9% in the first quarter. NewEdge Advisors LLC now owns 6,310 shares of the industrial products company's stock worth $1,075,000 after purchasing an additional 461 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Powell Industries by 1,221.0% during the 1st 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Powell Industries by 4.8% during the 1st 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 during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Powell Industries by 6.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 31,116 shares of the industrial products company's stock valued at $6,548,000 after purchasing an additional 1,822 shares during the last quarter. Institutional investors own 89.77% of the company's stock.

Powell Industries Company Profile

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.

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