Acumen Capital Forecasts Strong Price Appreciation for Hammond Power Solutions (TSE:HPS.A) Stock

Hammond Power Solutions (TSE:HPS.A) had its price target raised by equities research analysts at Acumen Capital from C$345.00 to C$365.00 in a research note issued on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Acumen Capital’s target price points to a potential upside of 7.05% from the stock’s previous close.

Several other analysts also recently weighed in on the company. Canaccord Genuity Group increased their target price on Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Royal Bank Of Canada upped their price target on Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. ATB Cormark Capital Markets increased their price objective on Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 target price on shares of Hammond Power Solutions and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, National Bank Financial upped their target price on shares of Hammond Power Solutions from C$325.00 to C$355.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Seven research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hammond Power Solutions has a consensus rating of “Buy” and an average target price of C$371.86.

Hammond Power Solutions Stock Up 0.7%

Shares of Hammond Power Solutions stock traded up C$2.46 during trading on Tuesday, hitting C$340.95. 24,949 shares of the stock traded hands, compared to its average volume of 85,247. The stock has a market cap of C$4.06 billion, a P/E ratio of 61.88 and a beta of 1.38. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. Hammond Power Solutions has a twelve month low of C$111.09 and a twelve month high of C$365.12. The company has a fifty day moving average price of C$308.80 and a two-hundred day moving average price of C$227.84.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings results on Tuesday, May 5th. The company reported C$2.08 earnings per share for the quarter. The business had revenue of C$264.84 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. Equities research analysts predict that Hammond Power Solutions will post 7.4221267 EPS for the current fiscal year.

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. The company operates in various geographical markets including Canada, the United States, Mexico, and India in which it derives majority revenue in the United States and Mexico.