Hammond Power Solutions (TSE:HPS.A) Stock Price Target Raised at National Bank Financial

Key Points

• National Bank Financial raised Hammond Power Solutions’ price target to C$380 from C$355 and maintained an “outperform” rating, implying 32.46% upside from the prior close.
• Other analysts also increased their targets, including ATB Cormark to C$400 and Raymond James to C$405. Seven analysts rate the stock Buy, with a consensus target of C$382.57.
• Hammond Power Solutions reported quarterly EPS of C$2.76 on revenue of C$324.80 million. Shares traded at C$286.87 on Tuesday, while the company’s market capitalization stood at approximately C$3.42 billion.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its price objective hoisted by National Bank Financial from C$355.00 to C$380.00 in a research report issued on Tuesday, BayStreet reports. The firm currently has an "outperform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 32.46% from the stock's previous close.

A number of other brokerages have also weighed in on HPS.A. ATB Cormark Capital Markets raised 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 report on Friday. Acumen Capital upped their price target on shares of 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. Finally, Raymond James Financial set a C$405.00 price target on Hammond Power Solutions and gave the company an "outperform" rating in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$382.57.

Hammond Power Solutions Price Performance

TSE HPS.A traded down C$21.24 during trading on Tuesday, hitting C$286.87. 44,350 shares of the company's stock were exchanged, compared to its average volume of 76,524. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The company has a market cap of C$3.42 billion, a PE ratio of 55.49 and a beta of 0.94. Hammond Power Solutions has a fifty-two week low of C$128.43 and a fifty-two week high of C$365.12. The stock's 50 day moving average price is C$260.09 and its two-hundred day moving average price is C$275.88.

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 earnings per share for the quarter. The company had revenue of C$324.80 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. Research analysts expect that Hammond Power Solutions will post 7.42 EPS for the current 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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