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

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

Analysts Set New Price Targets

Separately, National Bankshares boosted their price objective 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, Based on data from MarketBeat, Hammond Power Solutions has a consensus rating of “Buy” and an average target price of C$152.00.

Hammond Power Solutions Stock Up 27.5%

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

Insider Transactions at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total transaction of C$37,976.25. Following the transaction, the insider owned 31 shares in the company, valued at approximately C$3,622.35. The trade was a 91.29% decrease in their position. 6.02% of the stock is owned by corporate insiders.

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.