Hammond Power Solutions (TSE:HPS.A) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Hammond Power Solutions Inc. (TSE:HPS.A)’s share price passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of C$237.89 and traded as high as C$330.17. Hammond Power Solutions shares last traded at C$303.86, with a volume of 113,205 shares.

Wall Street Analyst Weigh In

HPS.A has been the topic of a number of recent research reports. Royal Bank Of Canada raised their target price on Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. ATB Cormark Capital Markets raised their target price on Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. National Bank Financial raised their target price on Hammond Power Solutions from C$235.00 to C$325.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Canaccord Genuity Group raised their target price on Hammond Power Solutions from C$226.00 to C$348.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hammond Power Solutions currently has a consensus rating of “Buy” and a consensus target price of C$343.25.

Hammond Power Solutions Trading Down 9.8%

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 stock has a fifty day moving average of C$237.89 and a 200 day moving average of C$199.10. The company has a market capitalization of C$3.62 billion, a P/E ratio of 55.15 and a beta of 0.96.

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