Hammond Power Solutions Inc. (TSE:HPS.A) Stock Now Rated “Buy” by Wall Street Analysts

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) have been assigned an average rating of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is C$378.29.

A number of research analysts have weighed in on the company. Royal Bank Of Canada reduced their price target on Hammond Power Solutions from C$350.00 to C$320.00 and set an “outperform” rating on the stock in a research note on Monday, November 2nd. National Bank Financial upped their target price on Hammond Power Solutions from C$355.00 to C$380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Finally, ATB Cormark Capital Markets increased their target price on Hammond Power Solutions from C$350.00 to C$400.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th.

Hammond Power Solutions Trading Up 10.6%

Shares of HPS.A stock opened at C$207.75 on Tuesday. The company has a market capitalization of C$2.47 billion, a price-to-earnings ratio of 34.40 and a beta of 1.45. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The firm has a 50-day moving average price of C$251.62 and a 200 day moving average price of C$253.13. Hammond Power Solutions has a twelve month low of C$150.56 and a twelve month high of C$365.12.

Hammond Power Solutions (TSE:HPS.A) last announced its earnings results on Thursday, October 29th. The company reported C$3.13 earnings per share (EPS) for the quarter. The firm had revenue of C$446.26 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. Research analysts forecast that Hammond Power Solutions will post 7.42 earnings per share for the current fiscal year.

About Hammond Power Solutions

Hammond Power Solutions Inc (‘HPS’ or the ‘Company’) enables electrification through its broad range of dry-type transformers, power quality products and related magnetic and power conversion systems. HPS’ standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in North America, Europe and Asia and sells its products around the globe.