Hammond Power Solutions (TSE:HPS.A) Stock Price Expected to Rise, ATB Cormark Capital Markets Analyst Says

Key Points

• ATB Cormark raised its price target for Hammond Power Solutions from C$350 to C$400 while maintaining an “outperform” rating, implying 27.8% upside from the reported share price.
• Analyst sentiment remains positive: seven analysts rate the stock a Buy, with a consensus target of C$379; Acumen Capital and Raymond James also recently issued higher targets and favorable ratings.
• Hammond Power Solutions shares rose 9.0% to C$313, while the company reported quarterly EPS of C$2.76 on C$324.8 million in revenue, with an 8.73% net margin and 28.43% return on equity.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its price objective lifted by analysts at ATB Cormark Capital Markets from C$350.00 to C$400.00 in a note issued to investors on Friday, BayStreet reports. The firm presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' price target points to a potential upside of 27.80% from the stock's current price.

HPS.A has been the subject of a number of other research reports. Acumen Capital lifted their target price on Hammond Power Solutions from C$345.00 to C$365.00 and gave the stock a "buy" rating in a report on Tuesday, June 30th. Raymond James Financial set a C$405.00 price objective on Hammond Power Solutions and gave the stock an "outperform" rating in a report on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat.com, Hammond Power Solutions currently has an average rating of "Buy" and an average target price of C$379.00.

Hammond Power Solutions Stock Up 9.0%

TSE:HPS.A traded up C$25.86 on Friday, reaching C$313.00. 39,970 shares of the stock traded hands, compared to its average volume of 76,553. The company's fifty day simple moving average is C$257.80 and its 200 day simple moving average is C$274.28. The company has a market capitalization of C$3.73 billion, a price-to-earnings ratio of 60.54 and a beta of 0.94. Hammond Power Solutions has a 12 month low of C$127.17 and a 12 month high of C$365.12. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$2.76 EPS for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. The firm had revenue of C$324.80 million for the quarter. Equities analysts predict that Hammond Power Solutions will post 7.4221267 EPS for the current fiscal year.

Hammond Power Solutions Company Profile

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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