Hammond Power Solutions (TSE:HPS.A) Shares Up 27.5% – Here’s Why

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) shot up 27.5% during trading on Saturday . The company traded as high as C$190.51 and last traded at C$179.52. 457,940 shares changed hands during trading, an increase of 804% from the average session volume of 50,685 shares. The stock had previously closed at C$140.83.

Wall Street Analyst Weigh In

Separately, National Bankshares lifted their price target on shares of Hammond Power Solutions from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a research note on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of C$152.00.

Hammond Power Solutions Stock Up 27.5%

The company’s 50 day moving average price is C$125.48 and its two-hundred day moving average price is C$114.88. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The stock has a market cap of C$2.14 billion, a P/E ratio of 26.83 and a beta of 1.17.

Insider Buying and Selling at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the company’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total value of C$37,976.25. Following the completion of the sale, the insider owned 31 shares of the company’s stock, valued at approximately C$3,622.35. This represents a 91.29% decrease in their position. Insiders own 6.02% of the company’s stock.

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.