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

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

Powell Industries Stock Performance

NASDAQ POWL opened at $211.70 on Tuesday. The business’s 50 day moving average price is $165.05 and its 200-day moving average price is $157.87. Powell Industries has a fifty-two week low of $72.51 and a fifty-two week high of $223.96. The company has a market cap of $2.54 billion, a P/E ratio of 25.14, a P/E/G ratio of 1.29 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $222.18 million. During the same period in the previous year, the firm earned $1.52 earnings per share. Powell Industries’s quarterly revenue was up 49.8% compared to the same quarter last year. As a group, equities analysts predict that Powell Industries will post 12.01 EPS for the current year.

Insiders Place Their Bets

In related news, insider Robert B. Callahan sold 1,000 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the completion of the transaction, the insider now owns 11,066 shares in the company, valued at approximately $1,770,560. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the transaction, the chief executive officer now directly owns 148,737 shares in the company, valued at approximately $21,166,762.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert B. Callahan sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $160.00, for a total transaction of $160,000.00. Following the transaction, the insider now directly owns 11,066 shares in the company, valued at $1,770,560. The disclosure for this sale can be found here. Insiders sold a total of 13,100 shares of company stock valued at $2,224,552 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in Powell Industries by 38.2% during the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 79 shares during the period. Picton Mahoney Asset Management bought a new position in shares of Powell Industries during the 2nd quarter worth $47,000. Quarry LP purchased a new position in shares of Powell Industries during the second quarter valued at $48,000. Plato Investment Management Ltd purchased a new position in shares of Powell Industries during the first quarter valued at $50,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Powell Industries in the second quarter valued at about $72,000. Hedge funds and other institutional investors 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.