PSIX - Power Solutions International: Best Growth Stock For 2024 Powering Forward
2024-07-20 11:11:45 ET
Summary
- Power Solutions International (PSIX) stock has outperformed the S&P 500 by 260% in the last year, despite being undervalued at just 6x forward earnings.
- PSIX is rated #3 overall out of 4,457 stocks analyzed and #1 in the Industrials sector by the SA Quant system.
- The company has returned to profitability in 2024, with strong Q1 results, improved gross margins, and debt reduction, driving a 450% YTD stock price increase.
Who would have expected that a 40-year-old company that produces powertrain products and solutions would have beaten the S&P 500 return by a multiple of more than ten times with a 260% return in the last year? Yet even at the elevated price that Power Solutions International ( PSIX ) stock trades for today, it is highly undervalued by the market at just 6x forward earnings.
One thing that really caught my eye when I discovered the massive price growth of PSIX, especially in the past two months, is that the SA Quant system (which has proven reliable to pick top growth stocks), rates PSIX #3 overall out of 4,457 total stocks analyzed and #1 out of 626 in the Industrials sector....
Power Solutions International: Best Growth Stock For 2024, Powering Forward