Hammond Power Solutions (TSE:HPS.A) Trading Up 31.7% – Still a Buy?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price was up 31.7% on Friday . The stock traded as high as C$190.51 and last traded at C$185.47. Approximately 308,323 shares were traded during trading, an increase of 518% from the average daily volume of 49,912 shares. The stock had previously closed at C$140.83.

Analysts Set New Price Targets

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

Hammond Power Solutions Stock Performance

The stock’s 50-day simple moving average is C$125.48 and its 200-day simple moving average is C$114.65. The stock has a market cap of C$2.14 billion, a price-to-earnings ratio of 26.83 and a beta of 1.17. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76.

Insider Buying and Selling

In other news, Senior Officer John Henry Bailey sold 325 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 31 shares in the company, valued at approximately C$3,622.35. The trade was a 91.29% decrease in their position. 6.02% of the stock is currently owned by corporate insiders.

About Hammond Power Solutions

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.