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

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

Powell Industries Stock Performance

Shares of NASDAQ:POWL opened at $211.70 on Tuesday. The firm has a fifty day moving average of $165.05 and a 200 day moving average of $157.87. Powell Industries has a 52-week low of $72.51 and a 52-week high of $223.96. The firm has a market capitalization of $2.54 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 1.29 and a beta of 0.87.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share 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 business had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. During the same period in the previous year, the firm posted $1.52 earnings per share. The firm’s revenue for the quarter was up 49.8% on a year-over-year basis. On average, sell-side analysts forecast that Powell Industries will post 12.01 EPS for the current fiscal year.

Insider Activity at Powell Industries

In other Powell Industries news, CEO Brett Alan Cope sold 2,750 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 148,737 shares in the company, valued at approximately $21,166,762.47. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director James W. Mcgill sold 6,600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $185.84, for a total value of $1,226,544.00. Following the completion of the transaction, the director now directly owns 9,660 shares of the company’s stock, valued at $1,795,214.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brett Alan Cope sold 2,750 shares of Powell Industries stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $142.31, for a total value of $391,352.50. Following the sale, the chief executive officer now directly owns 148,737 shares in the company, valued at $21,166,762.47. The disclosure for this sale can be found here. Insiders have sold a total of 13,100 shares of company stock worth $2,224,552 in the last 90 days. Company insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in shares of Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after acquiring an additional 79 shares in the last quarter. Picton Mahoney Asset Management bought a new position in shares of Powell Industries in the second quarter worth approximately $47,000. Quarry LP purchased a new stake in shares of Powell Industries during the second quarter valued at approximately $48,000. Plato Investment Management Ltd bought a new stake in shares of Powell Industries during the first quarter valued at approximately $50,000. Finally, Canada Pension Plan Investment Board purchased a new position in Powell Industries in the 2nd quarter worth approximately $72,000. 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.