Hammond Power Solutions Inc. (TSE:HPS.A) Given Average Rating of "Buy" by Analysts

Key Points

• Analysts remain bullish: All seven brokerages covering Hammond Power Solutions rate the stock “Buy,” with an average 12-month price target of C$371.86.
• Shares opened at C$249.24 after a 5.7% decline, well below the 12-month high of C$365.12. The company has a market capitalization of C$692.39 million and a P/E ratio of 48.21.
• Hammond Power Solutions reported quarterly earnings of C$2.76 per share and revenue of C$324.80 million, with an 8.73% net margin and 28.43% return on equity.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) has received a consensus rating of "Buy" from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a buy rating. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is C$371.86.

Several equities research analysts have recently issued reports on HPS.A shares. National Bank Financial lifted their target price on Hammond Power Solutions from C$325.00 to C$355.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Canaccord Genuity Group increased their price target on Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 price target on Hammond Power Solutions and gave the company an "overweight" rating in a report on Thursday, May 28th. Acumen Capital lifted their price objective on Hammond Power Solutions from C$345.00 to C$365.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, 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.

Hammond Power Solutions Stock Down 5.7%

Shares of HPS.A opened at C$249.24 on Wednesday. Hammond Power Solutions has a 12-month low of C$111.09 and a 12-month high of C$365.12. The business's 50 day moving average is C$295.06 and its 200 day moving average is C$258.13. 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 capitalization of C$692.39 million, a PE ratio of 48.21 and a beta of 1.30.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported C$2.76 earnings per share 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 during the quarter. Research analysts expect that Hammond Power Solutions will post 7.4221267 earnings per share 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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