Power Solutions International Inc. (PSIX) Downgraded by Zacks Investment Research to “Sell”
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. “
A number of other research firms have also weighed in on PSIX. 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 research note on Tuesday, August 16th. Wunderlich initiated coverage on Power Solutions International in a research report on Thursday, August 25th. They set a buy rating and a $50.00 target price on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $22.48.
Shares of Power Solutions International (NASDAQ:PSIX) opened at 12.86 on Tuesday. Power Solutions International has a 12 month low of $7.63 and a 12 month high of $24.93. The stock has a market capitalization of $139.90 million, a P/E ratio of 131.22 and a beta of 2.64. The firm’s 50-day moving average price is $10.98 and its 200-day moving average price is $13.82.
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A number of large investors have recently bought and sold shares of PSIX. Kimelman & Baird LLC boosted its stake in Power Solutions International by 551.3% in the second quarter. Kimelman & Baird LLC now owns 164,008 shares of the company’s stock valued at $2,928,000 after buying an additional 138,826 shares during the last quarter. Royce & Associates LP boosted its stake in Power Solutions International by 25.9% in the second quarter. Royce & Associates LP now owns 670,906 shares of the company’s stock valued at $11,976,000 after buying an additional 138,196 shares during the last quarter. Wellington Management Group LLP boosted its stake in Power Solutions International by 6.4% in the first quarter. Wellington Management Group LLP now owns 1,240,860 shares of the company’s stock valued at $17,124,000 after buying an additional 74,980 shares during the last quarter. Elk Creek Partners LLC boosted its stake in Power Solutions International by 14.3% in the second quarter. Elk Creek Partners LLC now owns 544,000 shares of the company’s stock valued at $5,681,000 after buying an additional 68,248 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Power Solutions International during the first quarter valued at $702,000. Institutional investors own 47.13% of the company’s stock.
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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