Hammond Power Solutions (TSE:HPS.A) Sets New 1-Year High - Here's What Happened

Key Points

• New 52-week high: Hammond Power Solutions (TSE:HPS.A) reached a 52-week high of C$230.95 and last traded at C$228.71 on Monday, up from the prior close of C$215.66 with about 28,409 shares changing hands.
• Analysts upbeat: Several firms raised price targets (Canaccord to C$226, ATB Cormark to C$250, National Bank Financial to C$235) and the stock carries a consensus Buy rating with an average target of C$237.00.
• Solid recent results: The company has a market cap of C$2.83 billion, reported quarterly EPS of C$1.98 on C$254.09 million revenue, with a P/E of 39.12, ROE of 28.43% and net margin of 8.73%.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as C$230.95 and last traded at C$228.71, with a volume of 28409 shares changing hands. The stock had previously closed at C$215.66.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Canaccord Genuity Group lifted their price target on shares of Hammond Power Solutions from C$223.00 to C$226.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. ATB Cormark Capital Markets lifted their price target on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a research report on Wednesday, February 18th. Finally, National Bank Financial lifted their price target on shares of Hammond Power Solutions from C$220.00 to C$235.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of C$237.00.

Hammond Power Solutions Price Performance

The company has a fifty day moving average of C$193.97 and a 200-day moving average of C$173.65. The firm has a market cap of C$2.83 billion, a P/E ratio of 39.12 and a beta of 0.93. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06.

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