Canaccord Genuity Group Increases Hammond Power Solutions (TSE:HPS.A) Price Target to C$348.00

Key Points

• Canaccord Genuity raised its price target on Hammond Power Solutions to C$348 (from C$226) and maintained a "Buy" rating, while other firms including RBC and National Bank also bumped targets, leaving a consensus Buy and an average target of C$343.25.
• Shares jumped about 4.6% to C$318.60 midday; the company has a market cap of C$3.79 billion, a P/E of 52.49, and reported quarterly EPS of C$2.08 on C$264.84 million in revenue with a 28.43% ROE and 8.73% net margin.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its price objective boosted by equities researchers at Canaccord Genuity Group from C$226.00 to C$348.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's target price indicates a potential upside of 9.23% from the company's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank Of Canada upped their price objective on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an "outperform" rating in a report on Thursday. National Bank Financial increased their price objective on Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an "outperform" rating in a report on Thursday. Finally, ATB Cormark Capital Markets boosted their target price on Hammond Power Solutions from C$235.00 to C$250.00 in a report on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hammond Power Solutions has a consensus rating of "Buy" and an average target price of C$343.25.

Hammond Power Solutions Stock Up 4.6%

HPS.A stock traded up C$14.12 during mid-day trading on Thursday, hitting C$318.60. The stock had a trading volume of 48,276 shares, compared to its average volume of 88,456. The stock has a market capitalization of C$3.79 billion, a price-to-earnings ratio of 52.49 and a beta of 0.96. 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 has a 1-year low of C$92.47 and a 1-year high of C$326.44. The company has a fifty day moving average of C$213.40 and a 200 day moving average of C$188.51.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$2.08 EPS for the quarter. The firm had revenue of C$264.84 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 expect 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.

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