Power Solutions International (NASDAQ:PSIX) Trading Up 12.2% – Still a Buy?

Power Solutions International, Inc. (NASDAQ:PSIX)’s stock price was up 12.2% on Monday . The company traded as high as $69.03 and last traded at $69.02. Approximately 322,906 shares were traded during trading, a decline of 17% from the average daily volume of 391,379 shares. The stock had previously closed at $61.53.

Analyst Ratings Changes

PSIX has been the subject of several research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of Power Solutions International in a research note on Monday, December 29th. Wall Street Zen cut Power Solutions International from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 13th. Finally, Jefferies Financial Group initiated coverage on Power Solutions International in a research report on Monday, December 1st. They set a “buy” rating and a $110.51 price target for the company. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Power Solutions International has an average rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Stock Up 11.4%

The firm’s 50-day moving average price is $64.57 and its 200-day moving average price is $78.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.19. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 13.03 and a beta of 2.02.

Power Solutions International (NASDAQ:PSIX) last announced its quarterly earnings results on Thursday, November 6th. The company reported $1.20 earnings per share for the quarter. Power Solutions International had a net margin of 17.94% and a return on equity of 109.04%. The firm had revenue of $203.83 million during the quarter.

Institutional Investors Weigh In On Power Solutions International

Several hedge funds have recently modified their holdings of PSIX. Vanguard Group Inc. boosted its holdings in Power Solutions International by 38.9% in the 3rd quarter. Vanguard Group Inc. now owns 502,381 shares of the company’s stock worth $49,344,000 after acquiring an additional 140,743 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Power Solutions International by 344.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 325,085 shares of the company’s stock worth $31,930,000 after purchasing an additional 251,883 shares in the last quarter. Busey Bank purchased a new position in shares of Power Solutions International in the third quarter valued at $21,608,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Power Solutions International in the third quarter valued at $19,001,000. Finally, Portolan Capital Management LLC acquired a new stake in Power Solutions International during the 3rd quarter valued at $19,232,000. 22.28% of the stock is currently owned by hedge funds and other institutional investors.

Power Solutions International Company Profile

Power Solutions International, Inc is a global designer and manufacturer of integrated powertrain solutions for commercial vehicle, industrial and military applications. Headquartered in Wood Dale, Illinois, the company develops and assembles advanced diesel engine and transmission packages under the Atlas® brand, combining proprietary engine technology with high-efficiency transmissions to deliver power-dense systems. These solutions are tailored for medium- and heavy-duty trucks, buses, construction equipment, generator sets and specialty vehicles.

In addition to complete powertrain systems, the company offers a broad range of component products including diesel engines, transmissions and aftertreatment modules.