Hammond Power Solutions (TSE:HPS.A) Price Target Raised to C$350.00

Key Points

• Several brokerages raised their targets on Hammond Power Solutions, with ATB Cormark and RBC lifting their targets to C$350 and the consensus price target at roughly C$343.25, leaving an average analyst rating of Buy.
• Shares traded up to C$318.60 (about +4.6%) midday, giving the company a market cap of C$3.79 billion, and ATB's C$350 target implies roughly a 9.9% upside from the prior close.
• In the most recent quarter HPS reported C$2.08 EPS on C$264.84 million revenue, with strong profitability metrics (ROE 28.43%, net margin 8.73%), and analysts project about C$7.42 EPS for the current year.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its target price hoisted by analysts at ATB Cormark Capital Markets from C$250.00 to C$350.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. ATB Cormark Capital Markets' target price points to a potential upside of 9.86% from the company's previous close.

Several other analysts also recently commented on HPS.A. Canaccord Genuity Group raised their price objective on shares of Hammond Power Solutions from C$226.00 to C$348.00 and gave the stock a "buy" rating in a research report on Thursday. National Bank Financial boosted their target price on shares of Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an "outperform" rating in a research report on Thursday. Finally, Royal Bank Of Canada increased their target price on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an "outperform" rating in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Hammond Power Solutions has an average rating of "Buy" and a consensus price target of C$343.25.

Hammond Power Solutions Trading Up 4.6%

Shares of TSE:HPS.A traded up C$14.12 during midday trading on Thursday, reaching C$318.60. The company's stock had a trading volume of 48,276 shares, compared to its average volume of 88,456. The firm 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 debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The firm has a 50 day moving average price of C$213.40 and a two-hundred day moving average price of C$188.51. Hammond Power Solutions has a fifty-two week low of C$92.47 and a fifty-two week high of C$326.44.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported C$2.08 EPS for the quarter. The business had revenue of C$264.84 million during the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. As a group, analysts forecast 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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