Hammond Power Solutions (TSE:HPS.A) Price Target Raised to C$348.00 at Canaccord Genuity Group

Hammond Power Solutions (TSE:HPS.A) had its price target increased by Canaccord Genuity Group from C$226.00 to C$348.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 9.23% from the company’s previous close.

Several other equities analysts have also recently commented on HPS.A. ATB Cormark Capital Markets upped their target price on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a research note on Wednesday, February 18th. Royal Bank Of Canada boosted their price objective on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, National Bank Financial upped their price objective on shares of Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an “outperform” rating in a research report on Thursday. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of C$343.25.

Hammond Power Solutions Stock Performance

TSE HPS.A traded up C$14.12 during trading on Thursday, hitting C$318.60. The company’s stock had a trading volume of 48,276 shares, compared to its average volume of 88,456. Hammond Power Solutions has a 52 week low of C$92.47 and a 52 week high of C$326.44. The firm has a market cap of C$3.79 billion, a P/E ratio of 52.49 and a beta of 0.96. The firm has a 50 day moving average price of C$213.40 and a 200 day moving average price of C$188.51. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76.

Hammond Power Solutions (TSE:HPS.A) last posted its quarterly earnings data on Tuesday, May 5th. The company reported C$2.08 earnings per share for the quarter. The company had revenue of C$264.84 million during the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. Equities research analysts forecast that Hammond Power Solutions will post 7.4221267 earnings per share for the current fiscal 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.