Powell Industries (NASDAQ:POWL) Downgraded by StockNews.com

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

Powell Industries Stock Performance

Shares of NASDAQ:POWL traded up $1.61 during trading on Tuesday, reaching $218.31. The company had a trading volume of 373,965 shares, compared to its average volume of 364,859. The firm’s fifty day moving average is $163.47 and its 200 day moving average is $157.49. The firm has a market capitalization of $2.62 billion, a PE ratio of 25.93, a price-to-earnings-growth ratio of 1.01 and a beta of 0.87. Powell Industries has a twelve month low of $72.51 and a twelve month high of $223.23.

Powell Industries (NASDAQ:POWL) last issued its quarterly earnings results 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 firm had revenue of $288.17 million for the quarter, compared to analysts’ expectations of $222.18 million. During the same period in the previous year, the business earned $1.52 earnings per share. Powell Industries’s revenue for the quarter was up 49.8% compared to the same quarter last year. Equities analysts predict that Powell Industries will post 12.01 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Powell Industries by 38.2% in the 2nd quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 79 shares during the period. Picton Mahoney Asset Management purchased a new position in Powell Industries during the second quarter valued at approximately $47,000. Quarry LP purchased a new stake in Powell Industries in the 2nd quarter worth approximately $48,000. Plato Investment Management Ltd acquired a new stake in shares of Powell Industries during the 1st quarter valued at $50,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Powell Industries during the 2nd quarter valued at $72,000. 89.77% of the stock is owned by institutional investors and hedge funds.

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.