Hammond Power Solutions (TSE:HPS.A) Stock Crosses Below 50 Day Moving Average – Should You Sell?

Hammond Power Solutions Inc. (TSE:HPS.A)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$318.81 and traded as low as C$307.31. Hammond Power Solutions shares last traded at C$309.24, with a volume of 66,013 shares traded.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on HPS.A shares. ATB Cormark Capital Markets raised 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 research note on Thursday, May 7th. Raymond James Financial set a C$405.00 price target on Hammond Power Solutions and gave the stock an “outperform” rating in a report on Tuesday, June 30th. Canaccord Genuity Group raised their price target on Hammond Power Solutions from C$226.00 to C$348.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 price objective on Hammond Power Solutions and gave the company an “overweight” rating in a report on Thursday, May 28th. Finally, National Bank Financial upped their price objective on Hammond Power Solutions from C$325.00 to C$355.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Seven research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of C$371.86.

Hammond Power Solutions Price Performance

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$3.68 billion, a P/E ratio of 56.12 and a beta of 1.35. The stock’s 50 day simple moving average is C$318.81 and its 200 day simple moving average is C$236.49.

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 for the quarter. The firm had revenue of C$264.84 million during the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. As a group, analysts expect that Hammond Power Solutions Inc. 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.