Powell Industries, Inc – Aggressive Growth – Zacks Rank Buy
Source: http://www.zacks.com/commentary/10309/Powell+Industries%2C+Inc+-+Aggressive+Growth+-+Zacks+Rank+BuyPosted on Monday, March 16th, 2009 | In Stocks to Watch
The Zacks Rank Buys featured in this article are: Powell Industries, Inc. (POWL), Diamond Foods Inc (DMND), Cooper Companies, Inc. (COO), iPCS Inc. (IPCS), and Crucell N.V (CRXL).
Powell Industries, Inc. (POWL) shares have been rising following the compan’ss latest earnings announcement. Analysts are projecting solid growth rates and the stock is trading at a key level.
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Powell announced results for its first fiscal quarter of 2008 on Feb 9. The machinery specialist reported earnings per share of 68 cents, 13% above the consensus of 60 cents. Powell has met or beat expectations in each of the past 6 quarters.
Revenue climbed to $171 million, up from $147 million, a 16% increase.
Bullish Outlook
Patrick McDonald, President and CEO said, “We are pleased with our solid first quarter results in what is traditionally a tough quarter for the Company. The health of our backlog and our demonstrated performance in this quarter support our continued confidence in our full year outlook during this challenging economic environment.”
He continued “Powell’s long-term prospects are bright, and our long-term outlook remains upbeat.”
Double-Digit Growth
The current consensus estimate for full-year 2009 is $2.78, which would be a 23% improvement over 2008. Forecasts for 2010 are averaging $3.17, a 14% growth.
The Chart
Shares of POWL have rallied since being featured as a Zacks Rank Buy in January. This week they look like they are in the process of breaking through resistance near $33. Take a look at the chart below.
Read the January 27th Feature Here
Last Week’s Aggressive Growth Zacks Rank Buy Stocks
Diamond Foods Inc (DMND) has continued its streak of beating Wall Street estimates. Earnings more than doubled in the past quarter for the food company.
Cooper Companies, Inc. (COO) just reported solid revenue and earnings growth. Margins are improving and shares are on the rise.
iPCS Inc. (IPCS) is on its way out of the read and rapidly growing into the black. Estimates are skyrocketing and producing astounding growth rates.
Crucell N.V (CRXL) has reported another earnings surprise that crushed Wall Street estimates. The company has also received approval from Chinese authorities and has doubled the production of one of its leading vaccinations.
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