Power Solutions International Inc. (PSIX) Upgraded to Hold by Zacks Investment Research

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Power Solutions International Inc. (NASDAQ:PSIX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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. “
Shares of Power Solutions International (NASDAQ:PSIX) opened at 12.41 on Tuesday. The firm has a market cap of $135.01 million and a PE ratio of 126.63. The firm’s 50-day moving average price is $15.02 and its 200 day moving average price is $14.16. Power Solutions International has a 52 week low of $7.63 and a 52 week high of $31.92.

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Other large investors have modified their holdings of the company. 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 valued at $1,003,000 after buying an additional 17,700 shares in the last quarter. 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 valued at $4,719,000 after buying an additional 28,968 shares in the last quarter. Royce & Associates LP increased its stake in shares of Power Solutions International by 157.4% in the first quarter. Royce & Associates LP now owns 532,710 shares of the company’s stock valued at $7,351,000 after buying an additional 325,788 shares in the last quarter. Spark Investment Management LLC acquired a new stake in shares of Power Solutions International during the first quarter valued at about $278,000. Finally, 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 valued at $786,000 after buying an additional 3,717 shares in the last quarter.
Several other analysts have also issued reports on the company. Wunderlich began coverage on Power Solutions International in a report on Thursday, August 25th. They set a “buy” rating and a $50.00 price objective for the company. Lake Street Capital lowered Power Solutions International from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a report on Tuesday, August 16th. Vetr upgraded Power Solutions International from a “hold” rating to a “buy” rating and set a $17.30 price objective for the company in a report on Monday, June 13th. Finally, Roth Capital increased their price objective on Power Solutions International from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, June 8th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.48.
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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