Hammond Power Solutions (TSE:HPS.A) Price Target Raised to C$235.00

Key Points

• National Bank Financial raised its price target on Hammond Power Solutions (TSE:HPS.A) from C$220 to C$235 and maintains an "outperform" rating, implying about a 22.46% upside from the prior close.
• Analysts have a consensus "Buy" rating with an average price target of C$237; several brokerages recently raised targets, including ATB Cormark to C$250 and Canaccord to C$226.
• Despite upgrades, the stock traded at C$191.90 on heavy volume (143,305 vs. avg 79,877), trading below analyst targets; the company has a market cap of C$2.28B, a PE of ~31.6, and reported Q EPS of C$1.98 with ROE of 28.43%.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its target price hoisted by analysts at National Bank Financial from C$220.00 to C$235.00 in a report issued on Tuesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. National Bank Financial's price objective indicates a potential upside of 22.46% from the stock's previous close.

A number of other analysts have also weighed in on HPS.A. Canaccord Genuity Group raised their target price 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. ATB Cormark Capital Markets raised their target price on Hammond Power Solutions from C$235.00 to C$250.00 in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hammond Power Solutions has a consensus rating of "Buy" and an average price target of C$237.00.

Hammond Power Solutions Price Performance

Hammond Power Solutions stock traded down C$18.47 during mid-day trading on Tuesday, hitting C$191.90. 143,305 shares of the company were exchanged, compared to its average volume of 79,877. 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 business has a fifty day moving average of C$191.71 and a 200 day moving average of C$171.16. Hammond Power Solutions has a 1-year low of C$69.81 and a 1-year high of C$225.00. The company has a market capitalization of C$2.28 billion, a PE ratio of 31.61 and a beta of 0.93.

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

Hammond Power Solutions Company Profile

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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