POWL Stock Recent News
POWL LATEST HEADLINES
The latest trading day saw Powell Industries (POWL) settling at $180.52, representing a +2.91% change from its previous close.
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Powell Industries (POWL) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
The latest trading day saw Powell Industries (POWL) settling at $180.89, representing a -7.3% change from its previous close.
I am upgrading Powell Industries to a 'buy' with a $233 price target, reflecting 26% upside potential from current levels. Electric Utility and Commercial market segments are driving revenue growth, offsetting declines from Oil & Gas and Petrochemical markets due to completion of large projects that were booked in FY23. Capacity expansion, product innovation, and strong operational discipline are positioning Powell for future order and backlog growth.
In the closing of the recent trading day, Powell Industries (POWL) stood at $185.76, denoting a -2.35% change from the preceding trading day.
POWL gains from strength across its end markets, diversification efforts and pro-shareholder policies. High operating expenses remain a concern.
The financial stability of Powell is supported by his solid fundamentals and strong balance sheet, which includes zero debt and a cash position of $180 million. The company achieved $278.6 million in revenue and $46 million in net income, which led to higher earnings per share and expanding margins. The $1.3 billion backlog with 12–18 month convertibility provides strong visibility, which supports the continued improvement in financial performance.
Zacks.com users have recently been watching Powell Industries (POWL) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
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