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

Hammond Power Solutions (TSE:HPS.A) had its target price lifted by stock analysts at ATB Cormark Capital Markets from C$350.00 to C$400.00 in a research note issued on Friday, BayStreet reports. The brokerage presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ price target would indicate a potential upside of 27.80% from the stock’s current price.

A number of other research analysts also recently issued reports on HPS.A. Acumen Capital boosted their price objective on Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Raymond James Financial set a C$405.00 price target on shares of Hammond Power Solutions and gave the stock an “outperform” rating in a research report on Tuesday, June 30th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of C$379.00.

Hammond Power Solutions Stock Performance

Shares of HPS.A stock traded up C$25.86 during mid-day trading on Friday, reaching C$313.00. 39,970 shares of the company’s stock traded hands, compared to its average volume of 76,553. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The firm has a market capitalization of C$3.73 billion, a PE ratio of 60.54 and a beta of 0.94. Hammond Power Solutions has a 12 month low of C$127.17 and a 12 month high of C$365.12. The firm has a 50 day moving average price of C$257.80 and a two-hundred day moving average price of C$274.28.

Hammond Power Solutions (TSE:HPS.A) last announced its earnings results on Thursday, July 30th. The company reported C$2.76 EPS for the quarter. The company had revenue of C$324.80 million for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. On average, research analysts forecast that Hammond Power Solutions will post 7.4221267 EPS for the current year.

Hammond Power Solutions Company Profile

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.