Hammond Power Solutions (TSE:HPS.A) Stock Price Passes Above 50 Day Moving Average – What’s Next?

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$268.35 and traded as high as C$331.27. Hammond Power Solutions shares last traded at C$329.10, with a volume of 43,814 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. ATB Cormark Capital Markets boosted their target price 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. JPMorgan Chase & Co. set a C$430.00 price objective on Hammond Power Solutions and gave the stock an “overweight” rating in a report on Thursday, May 28th. Royal Bank Of Canada increased their price target on Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. National Bank Financial increased their price target on Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group increased their price target 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat, Hammond Power Solutions has a consensus rating of “Buy” and a consensus target price of C$360.60.

Hammond Power Solutions Stock Performance

The stock has a 50 day moving average price of C$270.47 and a two-hundred day moving average price of C$210.26. 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 company has a market cap of C$3.58 billion, a price-to-earnings ratio of 54.60 and a beta of 1.38.

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

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. 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.