Canaccord Genuity Group Issues Positive Forecast for Hammond Power Solutions (TSE:HPS.A) Stock Price

Hammond Power Solutions (TSE:HPS.A) had its price objective boosted by Canaccord Genuity Group from C$223.00 to C$226.00 in a research report sent to investors on Monday,BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently weighed in on HPS.A. ATB Cormark Capital Markets raised their target price on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a research note on Wednesday, February 18th. National Bank Financial boosted their price target on shares of Hammond Power Solutions from C$215.00 to C$220.00 and gave the stock an “outperform” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$232.00.

Hammond Power Solutions Price Performance

Shares of TSE HPS.A opened at C$191.95 on Monday. The stock’s 50-day simple moving average is C$186.87 and its two-hundred day simple moving average is C$166.33. Hammond Power Solutions has a twelve month low of C$69.29 and a twelve month high of C$217.46. The firm has a market capitalization of C$2.29 billion, a P/E ratio of 28.31 and a beta of 0.48. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76.

Hammond Power Solutions (TSE:HPS.A) last issued its quarterly earnings results on Thursday, March 19th. The company reported C$1.98 earnings per share (EPS) for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%.The firm had revenue of C$254.09 million during the quarter. As a group, equities analysts anticipate that Hammond Power Solutions will post 7.4221267 EPS 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.