Zacks: Analysts Set $38.00 Target Price for Powell Industries, Inc. (NASDAQ:POWL)

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Shares of Powell Industries, Inc. (NASDAQ:POWL) have been given an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company. Powell Industries’ rating score has declined by 100% from 90 days ago as a result of a number of analysts’ upgrades and downgrades.

Analysts have set a twelve-month consensus target price of $38.00 for the company, according to Zacks. Zacks has also given Powell Industries an industry rank of 217 out of 255 based on the ratings given to related companies.

Several equities analysts recently commented on POWL shares. Sidoti lowered Powell Industries from a “buy” rating to a “neutral” rating in a research report on Tuesday. TheStreet raised Powell Industries from a “c+” rating to a “b-” rating in a research report on Monday, November 4th. ValuEngine lowered Powell Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, BidaskClub raised Powell Industries from a “sell” rating to a “hold” rating in a research report on Friday, November 1st.

Powell Industries stock traded down $0.24 during midday trading on Wednesday, hitting $39.56. 74,657 shares of the company were exchanged, compared to its average volume of 42,879. The company’s fifty day moving average price is $39.62 and its 200-day moving average price is $37.71. The company has a market cap of $457.59 million, a PE ratio of 88.49 and a beta of 1.22. Powell Industries has a fifty-two week low of $22.55 and a fifty-two week high of $42.88.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 20th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Tuesday, November 19th.

Several institutional investors and hedge funds have recently made changes to their positions in the business. State of Tennessee Treasury Department raised its position in shares of Powell Industries by 8.5% in the 3rd quarter. State of Tennessee Treasury Department now owns 4,108 shares of the industrial products company’s stock valued at $161,000 after purchasing an additional 323 shares in the last quarter. Prudential Financial Inc. raised its position in shares of Powell Industries by 2.5% during the 2nd quarter. Prudential Financial Inc. now owns 15,744 shares of the industrial products company’s stock valued at $599,000 after acquiring an additional 378 shares in the last quarter. Bank of Montreal Can raised its position in shares of Powell Industries by 45.2% during the 2nd quarter. Bank of Montreal Can now owns 2,411 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 750 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Powell Industries during the 3rd quarter valued at approximately $46,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Powell Industries during the 3rd quarter valued at approximately $62,000. 66.57% of the stock is currently owned by institutional investors.

About Powell Industries

Powell Industries, Inc, together with its subsidiaries, designs, develops, manufactures, sells, and services custom-engineered equipment and systems for the distribution, control, and monitoring of electrical energy. 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, and bus duct systems, as well as traditional and arc-resistant distribution switchgears and control gears.

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