Powell Industries (NASDAQ:POWL – Get Free Report) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.
Powell Industries Trading Down 4.5 %
Shares of POWL traded down $11.92 during midday trading on Wednesday, reaching $255.17. The stock had a trading volume of 525,906 shares, compared to its average volume of 368,514. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 1.56 and a beta of 0.88. The company’s 50-day moving average is $203.33 and its 200 day moving average is $171.99. Powell Industries has a 12-month low of $72.80 and a 12-month high of $284.45.
Powell Industries (NASDAQ:POWL – Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. The business had revenue of $288.17 million during the quarter, compared to analyst estimates of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. Powell Industries’s revenue for the quarter was up 49.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.52 earnings per share. Research analysts forecast that Powell Industries will post 12.01 EPS for the current fiscal year.
Insider Buying and Selling at Powell Industries
Hedge Funds Weigh In On Powell Industries
Several large investors have recently modified their holdings of the stock. Transform Wealth LLC grew its stake in shares of Powell Industries by 25,920.5% in the second quarter. Transform Wealth LLC now owns 1,674,162 shares of the industrial products company’s stock worth $240,075,000 after acquiring an additional 1,667,728 shares during the period. Vanguard Group Inc. raised its stake in Powell Industries by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 656,428 shares of the industrial products company’s stock valued at $93,410,000 after purchasing an additional 17,177 shares during the period. American Century Companies Inc. lifted its holdings in shares of Powell Industries by 15.0% in the second quarter. American Century Companies Inc. now owns 274,388 shares of the industrial products company’s stock worth $39,347,000 after buying an additional 35,818 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Powell Industries by 1.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 99,517 shares of the industrial products company’s stock valued at $14,271,000 after purchasing an additional 1,015 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new position in Powell Industries during the second quarter valued at approximately $11,658,000. Hedge funds and other institutional investors own 89.77% of the company’s stock.
Powell Industries Company Profile
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.
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