Hammond Power Solutions (TSE:HPS.A) Hits New 52-Week High – Here’s Why

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price reached a new 52-week high on Monday . The stock traded as high as C$225.00 and last traded at C$217.01, with a volume of 40618 shares traded. The stock had previously closed at C$182.43.

Analysts Set New Price Targets

A number of research firms have issued reports on HPS.A. ATB Cormark Capital Markets raised their price target on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a report on Wednesday, February 18th. Canaccord Genuity Group upped their target price on Hammond Power Solutions from C$223.00 to C$226.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Finally, National Bank Financial raised their target price on Hammond Power Solutions from C$220.00 to C$235.00 and gave the stock an “outperform” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of C$237.00.

Hammond Power Solutions Stock Down 7.7%

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 capitalization of C$2.31 billion, a PE ratio of 31.99 and a beta of 0.93. The business’s 50-day simple moving average is C$192.11 and its 200-day simple moving average is C$171.71.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings data on Thursday, March 19th. The company reported C$1.98 EPS for the quarter. The business had revenue of C$254.09 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. As a group, equities research analysts anticipate that Hammond Power Solutions Inc. will post 7.4221267 EPS for the current fiscal year.

Hammond Power Solutions Company Profile

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.