Getting back into the sport, looking at the middle bows is the right way to go.
The Powerhawk is a very good choice, Hoyt is known for their solid bows and the Powerhawk is right on par.
Some other bows you may want to take a look at are the Mission line and the Bear line. Both offer bows in the same price range as the Powerhawk.
Shoot every bow you can your hands on in your price range and find what feels the best to you, these are just starting points.