Cantor Fitzgerald Has Lowered Expectations for Powell Industries (NASDAQ:POWL) Stock Price

Powell Industries (NASDAQ:POWL) had its target price dropped by equities researchers at Cantor Fitzgerald from $320.00 to $235.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 15.17% from the company’s previous close.

POWL has been the topic of several other research reports. Glj Research upgraded Powell Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 14th. Zacks Research cut shares of Powell Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings downgraded shares of Powell Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, JPMorgan Chase & Co. increased their target price on shares of Powell Industries from $310.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $215.42.

Powell Industries Stock Performance

NASDAQ POWL opened at $204.04 on Friday. The firm’s 50 day moving average price is $249.16 and its 200-day moving average price is $228.58. Powell Industries has a 52-week low of $78.50 and a 52-week high of $328.00. The company has a market cap of $7.43 billion, a PE ratio of 39.16, a P/E/G ratio of 2.78 and a beta of 1.18.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings data on Monday, August 3rd. The industrial products company reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.07). Powell Industries had a return on equity of 27.51% and a net margin of 16.49%.The business had revenue of $311.74 million during the quarter, compared to the consensus estimate of $316.70 million. During the same period last year, the firm earned $3.96 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, analysts forecast that Powell Industries will post 5.34 earnings per share for the current fiscal year.

Insider Transactions at Powell Industries

In other Powell Industries news, major shareholder Thomas W. Powell sold 33,958 shares of Powell Industries stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $294.49, for a total transaction of $10,000,291.42. Following the completion of the sale, the insider owned 564,736 shares of the company’s stock, valued at approximately $166,309,104.64. The trade was a 5.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $241.55, for a total value of $1,072,482.00. Following the completion of the transaction, the chief executive officer owned 517,233 shares of the company’s stock, valued at approximately $124,937,631.15. The trade was a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 42,898 shares of company stock worth $12,353,653. Company insiders own 2.20% of the company’s stock.

Institutional Trading of Powell Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in POWL. BlackRock Inc. purchased a new stake in shares of Powell Industries in the second quarter worth about $1,033,376,000. Northwestern Mutual Wealth Management Co. boosted its position in Powell Industries by 1,230,312.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock worth $247,106,000 after purchasing an additional 775,097 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Powell Industries during the 2nd quarter worth approximately $60,389,000. Tema ETFs LLC increased its holdings 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 valued at $76,943,000 after purchasing an additional 184,010 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC purchased a new stake in Powell Industries during the third quarter worth $43,515,000. Institutional investors and hedge funds 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.