PSINet (NASDAQ: PSIX) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Thursday, Stock Ratings Network.com reports. The firm currently has a $39.90 target price on the stock. Zacks‘ price objective points to a potential upside of 12.30% from the stock’s previous close.
Shares of PSINet (NASDAQ: PSIX) traded up 2.66% during mid-day trading on Thursday, hitting $35.53. PSINet has a one year low of $14.35 and a one year high of $38.25. The stock’s 50-day moving average is currently $35.09. The company has a market cap of $329.4 million and a P/E ratio of 119.76.
PSINet (NASDAQ: PSIX) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.17 by $0.04. Analysts expect that PSINet will post $1.00 EPS for the current fiscal year.
Separately, analysts at Global Hunter Securities initiated coverage on shares of PSINet in a research note to investors on Wednesday, April 24th. They set a “buy” rating on the stock.
Power Solutions International, Inc, formerly Format, Inc, is a producer and distributor of a range of power solutions for original equipment manufacturers of off-highway industrial equipment.
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