Published On: Sun, Sep 11th, 2016

Power Solutions International Inc. (PSIX) Raised to Hold at Zacks Investment Research

Power Solutions International Inc. (NASDAQ:PSIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Power Solutions International, Inc. is engaged in producing and distributing power solutions for original equipment manufacturers of off-highway industrial equipment in the United States. The Company sells engines for stationary generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment. It also offers low-emission standard fuel and hybrid power solutions, and diesel power systems. Power Solutions International, Inc. is based in Wood Dale, Illinois. “
PSIX has been the topic of a number of other reports. Vetr lowered shares of Power Solutions International from a “hold” rating to a “sell” rating and set a $17.30 target price on the stock. in a research note on Monday, June 6th. Roth Capital raised their target price on shares of Power Solutions International from $16.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, June 8th. Lake Street Capital lowered shares of Power Solutions International from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research note on Tuesday, August 16th. Finally, Wunderlich began coverage on shares of Power Solutions International in a research note on Thursday, August 25th. They issued a “buy” rating and a $50.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $22.48.

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Shares of Power Solutions International (NASDAQ:PSIX) traded down 6.79% during midday trading on Tuesday, hitting $11.54. 61,788 shares of the stock were exchanged. The stock’s 50 day moving average is $14.10 and its 200 day moving average is $14.21. The firm has a market cap of $125.54 million, a P/E ratio of 117.76 and a beta of 2.62. Power Solutions International has a 12-month low of $7.63 and a 12-month high of $31.92.
Other hedge funds recently modified their holdings of the company. Gagnon Securities LLC increased its stake in shares of Power Solutions International by 9.3% in the first quarter. Gagnon Securities LLC now owns 341,955 shares of the company’s stock worth $4,719,000 after buying an additional 28,968 shares during the period. Kimelman & Baird LLC increased its stake in shares of Power Solutions International by 2.0% in the first quarter. Kimelman & Baird LLC now owns 25,182 shares of the company’s stock worth $348,000 after buying an additional 500 shares during the period. North Star Investment Management Corp. increased its stake in shares of Power Solutions International by 32.2% in the first quarter. North Star Investment Management Corp. now owns 72,700 shares of the company’s stock worth $1,003,000 after buying an additional 17,700 shares during the period. State Street Corp increased its stake in shares of Power Solutions International by 7.0% in the first quarter. State Street Corp now owns 56,921 shares of the company’s stock worth $786,000 after buying an additional 3,717 shares during the period. Finally, Spark Investment Management LLC bought a new stake in shares of Power Solutions International during the first quarter worth $278,000. 48.54% of the stock is owned by hedge funds and other institutional investors.
About Power Solutions International
Power Solutions International, Inc is a producer and distributor of a range of low-emission power systems that run on non-diesel fuels, such as natural gas, propane and gasoline. The Company’s industrial power systems are used by original equipment manufacturers (OEMs) in a range of industries with a diversified set of applications, including stationary electricity generators, oil and gas equipment, forklifts, aerial work platforms, industrial sweepers, arbor equipment, agricultural and turf equipment, aircraft ground support equipment, construction and irrigation equipment, and other industrial equipment.
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