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

Powell Industries (NASDAQ:POWL) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

Other equities research analysts have also recently issued research reports about the company. Roth Capital raised Powell Industries to a “strong-buy” rating in a report on Tuesday, December 10th. Roth Mkm started coverage on shares of Powell Industries in a research report on Wednesday, December 11th. They set a “buy” rating and a $312.00 price target for the company.

Powell Industries Stock Up 10.6 %

Powell Industries stock opened at $289.16 on Wednesday. Powell Industries has a 52 week low of $76.29 and a 52 week high of $364.98. The stock has a 50-day moving average price of $257.06 and a 200 day moving average price of $220.79. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 23.53, a price-to-earnings-growth ratio of 1.36 and a beta of 0.88.

Insider Transactions at Powell Industries

In other news, major shareholder Thomas W. Powell sold 5,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $347.74, for a total transaction of $1,738,700.00. Following the completion of the sale, the insider now owns 677,265 shares in the company, valued at approximately $235,512,131.10. This represents a 0.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Powell Industries

Large investors have recently modified their holdings of the stock. Hollencrest Capital Management acquired a new position in shares of Powell Industries during the third quarter worth about $30,000. Quest Partners LLC acquired a new position in Powell Industries during the third quarter worth $35,000. Farther Finance Advisors LLC lifted its holdings in Powell Industries by 110.5% in the third quarter. Farther Finance Advisors LLC now owns 200 shares of the industrial products company’s stock valued at $44,000 after acquiring an additional 105 shares during the period. Quarry LP purchased a new stake in Powell Industries during the second quarter worth about $48,000. Finally, Covestor Ltd boosted its stake in shares of Powell Industries by 21.8% during the 3rd quarter. Covestor Ltd now owns 229 shares of the industrial products company’s stock worth $51,000 after acquiring an additional 41 shares in the last quarter. 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.