Hammond Power Solutions (TSE:HPS.A) Sets New 52-Week High - Here's Why

Key Points

• Hammond Power Solutions hit a new 52‑week high, trading as high as C$283.79 (last C$281.08) on Monday, well above its 50‑day (C$203.82) and 200‑day (C$182.08) moving averages.
• Multiple analysts have raised price targets and issued "outperform"/"buy" ratings—three analysts rate the stock a Buy, with an average price target of C$240.25.
• Recent results showed C$1.98 EPS on C$254.09 million revenue, a 28.43% return on equity and an 8.73% net margin; the company has a market cap of C$3.37 billion and a P/E of 46.59.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shares hit a new 52-week high on Monday . The company traded as high as C$283.79 and last traded at C$281.08, with a volume of 15286 shares changing hands. The stock had previously closed at C$277.73.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HPS.A shares. National Bank Financial boosted their price objective 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. ATB Cormark Capital Markets boosted their price target on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a report on Wednesday, February 18th. Canaccord Genuity Group increased their price objective on Hammond Power Solutions from C$223.00 to C$226.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Finally, Royal Bank Of Canada set a C$250.00 target price on Hammond Power Solutions and gave the company an "outperform" rating in a research note on Monday, April 13th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of C$240.25.

Hammond Power Solutions Price Performance

The company's 50-day simple moving average is C$203.82 and its 200 day simple moving average is C$182.08. The company has a market capitalization of C$3.37 billion, a P/E ratio of 46.59 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.

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 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 business had revenue of C$254.09 million for the quarter. As a group, sell-side analysts expect that Hammond Power Solutions Inc. will post 7.4221267 earnings per share 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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