Hammond Power Solutions (TSE:HPS.A) Hits New 52-Week High – Time to Buy?

Hammond Power Solutions Inc. (TSE:HPS.A) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as C$365.12 and last traded at C$365.00, with a volume of 7754 shares. The stock had previously closed at C$339.71.

Analysts Set New Price Targets

Several analysts have recently commented on HPS.A shares. Canaccord Genuity Group increased their price objective on Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Royal Bank Of Canada 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 research note on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 target price on Hammond Power Solutions and gave the company an “overweight” rating in a research report on Thursday, May 28th. ATB Cormark Capital Markets 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. Finally, National Bank Financial raised their price target on Hammond Power Solutions from C$325.00 to C$355.00 and gave the stock an “outperform” rating in a report on Wednesday, June 10th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of C$366.60.

Hammond Power Solutions Stock Performance

The company has a market cap of C$4.17 billion, a PE ratio of 63.53 and a beta of 1.38. 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 firm’s 50-day simple moving average is C$296.03 and its two-hundred day simple moving average is C$221.10.

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