Zacks Investment Research upgraded Powell Industries, Inc. (POWL - Free Report) to a Zacks Rank #1 (Strong Buy) on Jun 30, 2016. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market over the next few quarters.
Why the Upgrade?
Market sentiments have been favoring Powell Industries since the beginning of 2016, with a solid 53.9% return year-to-date. Also, the company has impressed investors with a 187.5% positive earnings surprise in second-quarter fiscal 2016 (ended Mar 2016). Over the last four quarters, the company has delivered an average earnings surprise of 40.7%.
For fiscal 2016, Powell Industries anticipates its results to be driven by its backlog and favorable business conditions. The company has increased its earning guidance to 80 cents−$1.10 per share from the previous projection of 65 cents−$1.05. Also, the company predicts this year’s revenues to range within $520−$560 million range.
Impressive quarter results and outlook for fiscal 2016 have made investors optimistic about Powell Industries’ future prospects. Over the last 60 days, the Zacks Consensus Estimate for the stock has increased 69.2% to 65 cents for fiscal 2016, while the same remained stable at 90 cents per share for fiscal 2017.
Other Stocks to Consider
Powell Industries currently has a market capitalization of approximately $448 million. Other stocks worth considering in the machinery industry include EnerSys (ENS - Free Report) , SPX FLOW, Inc. (FLOW - Free Report) and ESCO Technologies Inc. (ESE - Free Report) . While both EnerSys and SPX FLOW sport the same Zacks Rank as Powell Industries, ESCO Technologies carries a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Zacks Investment Research upgraded Powell Industries, Inc. (POWL - Free Report) to a Zacks Rank #1 (Strong Buy) on Jun 30, 2016. Going by the Zacks model, companies sporting a Zacks Rank #1 have strong chances of outperforming the broader market over the next few quarters.
Why the Upgrade?
Market sentiments have been favoring Powell Industries since the beginning of 2016, with a solid 53.9% return year-to-date. Also, the company has impressed investors with a 187.5% positive earnings surprise in second-quarter fiscal 2016 (ended Mar 2016). Over the last four quarters, the company has delivered an average earnings surprise of 40.7%.
For fiscal 2016, Powell Industries anticipates its results to be driven by its backlog and favorable business conditions. The company has increased its earning guidance to 80 cents−$1.10 per share from the previous projection of 65 cents−$1.05. Also, the company predicts this year’s revenues to range within $520−$560 million range.
Impressive quarter results and outlook for fiscal 2016 have made investors optimistic about Powell Industries’ future prospects. Over the last 60 days, the Zacks Consensus Estimate for the stock has increased 69.2% to 65 cents for fiscal 2016, while the same remained stable at 90 cents per share for fiscal 2017.
Other Stocks to Consider
Powell Industries currently has a market capitalization of approximately $448 million. Other stocks worth considering in the machinery industry include EnerSys (ENS - Free Report) , SPX FLOW, Inc. (FLOW - Free Report) and ESCO Technologies Inc. (ESE - Free Report) . While both EnerSys and SPX FLOW sport the same Zacks Rank as Powell Industries, ESCO Technologies carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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