Power Solutions International (NASDAQ:PSIX) Shares Up 16% – Still a Buy?

Power Solutions International, Inc. (NASDAQ:PSIX)’s share price was up 16% during trading on Friday . The stock traded as high as $79.16 and last traded at $78.82. Approximately 292,481 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 396,404 shares. The stock had previously closed at $67.95.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Power Solutions International in a report on Monday, December 29th. Jefferies Financial Group began coverage on shares of Power Solutions International in a research report on Monday, December 1st. They issued a “buy” rating and a $110.51 price objective for the company. Finally, Wall Street Zen cut Power Solutions International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 13th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $101.51.

Power Solutions International Stock Performance

The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 15.39 and a beta of 2.11. The firm’s 50-day moving average is $67.70 and its two-hundred day moving average is $78.66. The company has a current ratio of 2.28, a quick ratio of 1.19 and a debt-to-equity ratio of 0.59.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Federated Hermes Inc. purchased a new position in Power Solutions International during the third quarter worth approximately $26,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Power Solutions International by 2,672.7% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 305 shares of the company’s stock worth $30,000 after acquiring an additional 294 shares during the last quarter. California State Teachers Retirement System purchased a new position in shares of Power Solutions International during the 2nd quarter worth $26,000. Ameritas Investment Partners Inc. acquired a new position in shares of Power Solutions International during the 2nd quarter valued at about $43,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Power Solutions International in the second quarter valued at about $52,000. 22.28% of the stock is owned by hedge funds and other institutional investors.

About Power Solutions International

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.