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

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. 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. Canaccord Genuity Group upped their target price on Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. ATB Cormark Capital Markets increased their price target 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, May 7th. Royal Bank Of Canada raised their price target on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, National Bank Financial lifted their price objective on shares of Hammond Power Solutions from C$325.00 to C$355.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Five research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of C$366.60.

Hammond Power Solutions Stock Performance

The firm’s fifty day simple moving average is C$296.03 and its 200 day simple moving average is C$221.10. The company has a market capitalization of C$4.17 billion, a PE ratio of 63.53 and a beta of 1.38. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06.

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