Powell Industries (POWL) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Powell Industries (NASDAQ:POWL) from a buy rating to a strong-buy rating in a research note published on Tuesday.

Shares of Powell Industries stock opened at $31.14 on Tuesday. Powell Industries has a 52-week low of $22.80 and a 52-week high of $38.73.

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Powell Industries (NASDAQ:POWL) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported ($0.49) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.33). Powell Industries had a negative net margin of 3.95% and a negative return on equity of 4.35%. The business had revenue of $90.18 million during the quarter, compared to analysts’ expectations of $103.34 million. During the same period last year, the company posted ($0.03) EPS. Powell Industries’s revenue for the quarter was down 18.2% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in POWL. MetLife Investment Advisors LLC purchased a new stake in shares of Powell Industries in the 4th quarter valued at $126,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Powell Industries in the 4th quarter valued at $216,000. Wells Fargo & Company MN boosted its stake in shares of Powell Industries by 52.4% in the 3rd quarter. Wells Fargo & Company MN now owns 10,263 shares of the industrial products company’s stock valued at $308,000 after purchasing an additional 3,527 shares in the last quarter. Arizona State Retirement System purchased a new stake in shares of Powell Industries in the 4th quarter valued at $418,000. Finally, Pinebridge Investments L.P. boosted its stake in shares of Powell Industries by 1,749.0% in the 4th quarter. Pinebridge Investments L.P. now owns 19,932 shares of the industrial products company’s stock valued at $571,000 after purchasing an additional 18,854 shares in the last quarter. 65.11% of the stock is owned by institutional investors.

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Powell Industries Company Profile

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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