Hammond Power Solutions (TSE:HPS.A) Shares Up 30.7% – Should You Buy?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price shot up 30.7% during mid-day trading on Friday . The stock traded as high as C$190.51 and last traded at C$184.11. 325,840 shares were traded during mid-day trading, an increase of 552% from the average session volume of 49,967 shares. The stock had previously closed at C$140.83.

Wall Street Analysts Forecast Growth

Separately, National Bankshares increased their target price on 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hammond Power Solutions presently has an average rating of “Buy” and an average price target of C$152.00.

Hammond Power Solutions Price Performance

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$2.14 billion, a PE ratio of 26.83 and a beta of 1.17. The firm has a 50 day moving average of C$125.48 and a two-hundred day moving average of C$114.65.

Insider Buying and Selling at Hammond Power Solutions

In related news, Senior Officer John Henry Bailey sold 325 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total value of C$37,976.25. Following the sale, the insider owned 31 shares in the company, valued at C$3,622.35. This represents a 91.29% decrease in their position. 6.02% of the stock is owned by 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.