Hammond Power Solutions (TSE:HPS.A) Stock Price Passes Above 50-Day Moving Average – What’s Next?

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$290.15 and traded as high as C$324.99. Hammond Power Solutions shares last traded at C$318.48, with a volume of 41,680 shares changing hands.

Analyst Ratings Changes

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

Hammond Power Solutions Stock Down 1.5%

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 50 day moving average price of C$290.15 and a 200 day moving average price of C$218.65. The company has a market cap of C$3.79 billion, a P/E ratio of 57.80 and a beta of 1.38.

Hammond Power Solutions (TSE:HPS.A) last issued its earnings results on Tuesday, May 5th. The company reported C$2.08 earnings per share (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%. Research 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.