Powell Industries (NASDAQ:POWL) Trading 7.9% Higher - Should You Buy?

Powell Industries, Inc. (NASDAQ:POWL - Get Free Report)'s stock price shot up 7.9% during mid-day trading on Friday . The stock traded as high as $276.52 and last traded at $275.14. 117,574 shares were traded during mid-day trading, a decline of 68% from the average session volume of 365,798 shares. The stock had previously closed at $254.98.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Powell Industries from a "hold" rating to a "buy" rating in a research note on Wednesday, October 23rd.

Powell Industries Trading Up 9.5 %

The firm has a market capitalization of $3.35 billion, a P/E ratio of 26.13, a P/E/G ratio of 1.46 and a beta of 0.88. The business's fifty day moving average is $217.07 and its 200 day moving average is $178.53.

Powell Industries (NASDAQ:POWL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $3.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $1.63. The firm had revenue of $288.17 million during the quarter, compared to the consensus estimate of $222.18 million. Powell Industries had a return on equity of 33.09% and a net margin of 13.77%. The business's revenue for the quarter was up 49.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. As a group, sell-side analysts predict that Powell Industries, Inc. will post 12.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Powell Industries

In related news, major shareholder Thomas W. Powell sold 25,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total transaction of $5,339,000.00. Following the completion of the sale, the insider now directly owns 682,265 shares in the company, valued at approximately $145,704,513.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Thomas W. Powell sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $213.56, for a total value of $5,339,000.00. Following the completion of the sale, the insider now owns 682,265 shares of the company's stock, valued at approximately $145,704,513.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brett Alan Cope sold 2,750 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $162.42, for a total transaction of $446,655.00. Following the transaction, the chief executive officer now directly owns 145,987 shares in the company, valued at approximately $23,711,208.54. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 65,350 shares of company stock worth $14,774,341. 2.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Powell Industries

Several hedge funds have recently bought and sold shares of POWL. Hollencrest Capital Management acquired a new stake in shares of Powell Industries in the third quarter worth $30,000. GAMMA Investing LLC boosted its holdings in Powell Industries by 38.2% during the second quarter. GAMMA Investing LLC now owns 286 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 79 shares during the period. Farther Finance Advisors LLC boosted its holdings in Powell Industries by 110.5% during 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. Picton Mahoney Asset Management acquired a new stake in shares of Powell Industries in the second quarter valued at about $47,000. Finally, Quarry LP bought a new position in shares of Powell Industries in the second quarter worth about $48,000. 89.77% of the stock is owned by institutional investors and hedge funds.

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.