D.A. Davidson & Co. Expects Rebound To Happen For Powell Industries

In a report published Wednesday, D.A. Davidson & Co. analyst Brent Thielman reiterated a Buy rating and $80.00 price target on Powell Industries (NASDAQ: POWL).

In the report, D.A. Davidson & Co. noted, “Powell Industries reported Q3 earnings from continuing operations of $0.24 per share compared to $0.76 last year. This was well below our estimate and consensus of $0.89 and $0.77 per share, respectively. Schedule changes and Canadian operational inefficiencies were primary drivers of lower revenue and earnings in the quarter.”

Powell Industries closed on Tuesday at $55.48.