Hammond Power Solutions (TSE:HPS.A) Trading Up 29.8% – What’s Next?

Hammond Power Solutions Inc. (TSE:HPS.A) shares were up 29.8% during trading on Friday . The company traded as high as C$190.51 and last traded at C$182.86. Approximately 365,439 shares traded hands during trading, an increase of 628% from the average daily volume of 50,165 shares. The stock had previously closed at C$140.83.

Analysts Set New Price Targets

Separately, National Bankshares lifted their target price on shares of Hammond Power Solutions from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of C$152.00.

Hammond Power Solutions Trading Up 27.5%

The business’s 50-day moving average price is C$125.48 and its two-hundred day moving average price is C$114.65. The company has a market capitalization of C$2.14 billion, a P/E ratio of 26.83 and a beta of 1.17. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06.

Insider Buying and Selling

In related news, Senior Officer John Henry Bailey sold 325 shares of the business’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total value of C$37,976.25. Following the sale, the insider directly owned 31 shares of the company’s stock, valued at approximately C$3,622.35. The trade was a 91.29% decrease in their position. Corporate insiders own 6.02% of the company’s stock.

Hammond Power Solutions Company Profile

Hammond Power Solutions Inc is engaged in designing and manufacturing of custom electrical magnetics, cast resin, custom liquid filled distribution and power transformers and standard electrical transformers, serving the electrical and electronic industries. The company has manufacturing plants in Canada, the United States, Mexico and India.