StockNews.com Upgrades Powell Industries (NASDAQ:POWL) to Buy

Powell Industries (NASDAQ:POWL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

POWL has been the topic of several other research reports. Roth Mkm assumed coverage on Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 target price on the stock. Roth Capital raised Powell Industries to a “strong-buy” rating in a research report on Tuesday, December 10th.

Powell Industries Stock Performance

Shares of POWL opened at $232.60 on Thursday. The company has a 50 day moving average price of $274.72 and a 200-day moving average price of $209.15. Powell Industries has a fifty-two week low of $76.29 and a fifty-two week high of $364.98. The stock has a market capitalization of $2.80 billion, a PE ratio of 18.93, a PEG ratio of 1.31 and a beta of 0.85.

Insiders Place Their Bets

In other Powell Industries news, major shareholder Thomas W. Powell sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $347.74, for a total value of $1,738,700.00. Following the completion of the sale, the insider now owns 677,265 shares of the company’s stock, valued at approximately $235,512,131.10. This trade represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 35,000 shares of company stock valued at $9,340,842. 2.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently modified their holdings of POWL. Wellington Management Group LLP purchased a new stake in Powell Industries during the 3rd quarter worth approximately $30,038,000. Victory Capital Management Inc. increased its position in shares of Powell Industries by 1,119.3% in the 3rd quarter. Victory Capital Management Inc. now owns 98,590 shares of the industrial products company’s stock valued at $21,886,000 after acquiring an additional 90,504 shares during the period. Driehaus Capital Management LLC purchased a new position in Powell Industries in the 2nd quarter worth $11,658,000. Stephens Investment Management Group LLC acquired a new stake in Powell Industries during the 3rd quarter worth about $13,606,000. Finally, Sanctuary Advisors LLC purchased a new stake in Powell Industries during the 3rd quarter valued at about $12,176,000. Institutional investors and hedge funds 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.