Hammond Power Solutions (TSE:HPS.A) Stock Gets Price Target Reduction from Royal Bank Of Canada

Key Points

• Royal Bank of Canada lowered Hammond Power Solutions’ price target from C$350 to C$320 while maintaining an “outperform” rating, implying 41.32% upside from the prior close.
• Analyst sentiment remains positive: seven analysts rate the stock a Buy, with a consensus price target of C$378.29; ATB Cormark and National Bank Financial recently raised their targets.
• Shares fell 1.5% to C$226.44 in Monday trading. Hammond Power Solutions recently reported C$3.13 in quarterly EPS on C$446.26 million in revenue and has a C$2.70 billion market capitalization.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its price objective reduced by equities research analysts at Royal Bank Of Canada from C$350.00 to C$320.00 in a report released on Monday, BayStreet reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 41.32% from the stock's previous close.

Several other brokerages also recently weighed in on HPS.A. ATB Cormark Capital Markets upped their target price on shares of Hammond Power Solutions from C$350.00 to C$400.00 and gave the company an "outperform" rating in a research note on Friday, October 9th. National Bank Financial lifted their price target on shares of Hammond Power Solutions from C$355.00 to C$380.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 13th. Seven equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of C$378.29.

Hammond Power Solutions Stock Down 1.5%

Shares of TSE:HPS.A traded down C$3.44 during midday trading on Monday, hitting C$226.44. 40,922 shares of the company's stock traded hands, compared to its average volume of 77,400. Hammond Power Solutions has a twelve month low of C$150.56 and a twelve month high of C$365.12. The company has a market cap of C$2.70 billion, a PE ratio of 43.80 and a beta of 0.94. 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 firm's fifty day moving average price is C$255.00 and its two-hundred day moving average price is C$251.63.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported C$3.13 earnings per share (EPS) for the quarter. The business had revenue of C$446.26 million during the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. On average, equities research analysts anticipate that Hammond Power Solutions will post 7.42 EPS for the current fiscal year.

About Hammond Power Solutions

Hammond Power Solutions Inc ('HPS' or the 'Company') enables electrification through its broad range of dry-type transformers, power quality products and related magnetic and power conversion systems. HPS' standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in North America, Europe and Asia and sells its products around the globe.

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