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UPDATE: D.A. Davidson Reiterates On Powell Industries On Near-Term Margin Complications

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In a report published Thursday, D.A. Davidson analyst Brent Thielman reiterated a Buy rating on Powell Industries (NASDAQ: POWL), but lowered the price target from $80.00 to $70.00.

In the report, D.A. Davidson noted, “Powell Industries reported Q3 EPS of $0.24 from continuing operations compared to $0.76 last year. This was well below our forecast of $0.89 and consensus of $0.77. Margins declined due to headwinds in its Canadian operation as the company ramps production at its new facility, deferring revenue into Q4 and 2015. Additionally, schedule changes on certain U.S. projects led to lower than expected sales.”

Powell Industries closed on Wednesday at $52.70.

Latest Ratings for POWL

DateFirmActionFromTo
Dec 2018MaintainsBuyBuy
Feb 2015DowngradesBuyHold
Jan 2015UpgradesUnderperformNeutral

View More Analyst Ratings for POWL
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Posted-In: Brent Thielman D.A. DavidsonAnalyst Color Price Target Analyst Ratings

 

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