Hammond Power Solutions (TSE:HPS.A) Hits New 12-Month High - Here's What Happened

Key Points

• New 52‑week high: Hammond Power Solutions reached a 52‑week high of C$225.00 (last C$217.01) on Monday, up from a prior close of C$182.43, with about 40,618 shares traded and both the 50‑day (C$190.84) and 200‑day (C$170.51) moving averages below the current price.
• Analysts raising targets and a consensus Buy: Several firms boosted price targets (National Bank Financial C$220, Canaccord C$226, ATB Cormark C$250) and MarketBeat shows an average target of C$232.00 with a consensus rating of "Buy".
• Recent results and valuation: The company reported quarterly EPS of C$1.98 on C$254.09M revenue, with an 8.73% net margin and 28.43% ROE; the stock has a market cap of C$2.45B and a P/E of 33.91.

Shares of Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$225.00 and last traded at C$217.01, with a volume of 40618 shares. The stock had previously closed at C$182.43.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. National Bank Financial raised their target price on Hammond Power Solutions from C$215.00 to C$220.00 and gave the stock an "outperform" rating in a research report on Monday, March 23rd. Canaccord Genuity Group boosted their price objective on Hammond Power Solutions from C$223.00 to C$226.00 and gave the company a "buy" rating in a research note on Monday, March 23rd. Finally, ATB Cormark Capital Markets upped their price objective on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Hammond Power Solutions has an average rating of "Buy" and a consensus target price of C$232.00.

Hammond Power Solutions Stock Performance

The stock has a market capitalization of C$2.45 billion, a P/E ratio of 33.91 and a beta of 0.93. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The company has a 50-day moving average price of C$190.84 and a two-hundred day moving average price of C$170.51.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The company reported C$1.98 EPS for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. The company had revenue of C$254.09 million during the quarter. Equities analysts expect that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.