Investor’s Alert: Power Solutions International, Inc. (NASDAQ:PSIX), International Business Machines Corporation (NYSE:IBM)

At the movement Power Solutions International, Inc. (NASDAQ:PSIX) is under coverage by number of analysts. 1 analyst given UNDERPERFORM rating to stock and 1 analyst given HOLD rating. The consensus recommendation by Thomson Reuters analysts is Hold and their mean rating for the stock is 2.75 on scale of 1-5. Analysts mean target price for Power Solutions International, Inc. (NASDAQ:PSIX) is $15.00 while their mean recommendation is 2.50 (1=Buy, 5=sell).

If we look at stock performance in last active day trading, we see that stock has moved up 64.21% to end the day at $6.24. Company price to earnings (P/E) ratio, which measures the relationship between the earnings of a company and its stock price, is calculated as 6.68. The current share price indicate that stock is -70.24% away from its one year high and is moving 126.09% ahead of its 52-week low.

Power Solutions International, Inc. (NASDAQ:PSIX) announced that it has appointed Frazier & Deeter, LLC (“Frazier & Deeter”) as its new auditor to succeed RSM US LLP. The appointment of Frazier & Deeter, a nationally recognized CPA and advisory firm with over 300 professionals, follows a thorough evaluation process led by the Company’s Audit Committee. The Company and Frazier & Deeter are committed to a seamless transition as Frazier & Deeter commences its work to re-audit certain restated financial statements and review financial statements to be included in delinquent filings. Gary Winemaster, chairman and chief executive officer, commented, “The appointment of Frazier & Deeter is another important step to becoming current with our financial statements. Following our recent appointment of Tim Cunningham, a proven leader with extensive expertise in overseeing financial restatements and related matters, to serve as interim chief financial officer, we have the key resources in place to move forward expeditiously. As we near the completion of the Audit Committee’s independent internal review, we are developing a strategy to move quickly and efficiently to work through the financial restatement and become current in our filings.

On 16 February 2017, International Business Machines Corporation (NYSE:IBM) shares moved to $181.43 after starting the day at $181.45. Number of analysts are covering this stock and currently stock has got OUTPERFORM rating from 4 analysts of Thomson Reuters, 15 analysts given HOLD rating to the stock and 1 given UNDERPERFORM rating. Analyst’s mean target price for IBM is $164.80 while analysts mean recommendation is 2.80.

International Business Machines Corporation (NYSE:IBM) has announced a range of partnerships with companies such as Visa, Bosch, Indiegogo, Capgemini, SNCF, Ricoh and others to coincide with the inauguration of its new USD 200 million Internet of Things headquarters in Munich. The company last year revealed that it would be opening a new global headquarters for its Watson IoT business to drive a USD 3 billion push to bring cognitive computing to IoT. The partnership with Visa is described as the industry’s first collaboration that brings the point of sale to everywhere Visa is accepted by allowing businesses to quickly introduce secure.

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