Hammond Power Solutions (TSE:HPS.A) Trading 13.4% Higher – Here’s Why

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price was up 13.4% during trading on Friday . The stock traded as high as C$200.00 and last traded at C$197.18. Approximately 84,503 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 70,177 shares. The stock had previously closed at C$173.84.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HPS.A. National Bank Financial raised their target price on shares of Hammond Power Solutions from C$195.00 to C$215.00 in a research report on Wednesday, February 18th. ATB Cormark Capital Markets upped their price target on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of C$206.00.

Hammond Power Solutions Stock Performance

The firm has a market capitalization of C$2.35 billion, a P/E ratio of 29.15 and a beta of 0.48. The company has a 50-day moving average of C$186.30 and a 200-day moving average of C$165.50. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings results on Thursday, March 19th. The company reported C$1.98 EPS for the quarter. The firm had revenue of C$254.09 million for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. On average, equities analysts anticipate 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.