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 crossed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of C$168.08 and traded as high as C$196.73. Hammond Power Solutions shares last traded at C$187.88, with a volume of 81,100 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Canaccord Genuity Group increased their target price on Hammond Power Solutions from C$154.00 to C$211.00 and gave the stock a “buy” rating in a report on Monday, October 27th. National Bankshares increased their price objective on shares of Hammond Power Solutions from C$150.00 to C$195.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hammond Power Solutions currently has an average rating of “Buy” and an average price target of C$184.67.

Hammond Power Solutions Price Performance

The business’s fifty day moving average price is C$168.08 and its 200 day moving average price is C$149.68. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06. The stock has a market cap of C$2.24 billion, a P/E ratio of 27.71 and a beta of 0.51.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings data on Thursday, October 23rd. The company reported C$1.46 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$218.34 million during the quarter. Sell-side analysts forecast 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.