Hammond Power Solutions (TSE:HPS.A) Share Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• Price breakout: Hammond Power Solutions (TSE:HPS.A) traded above its 50‑day moving average (C$198.95), rising as high as C$246.04 and last at C$245.48 on volume of 111,210 shares, a gain of roughly 8.4%.
• Analyst bullishness: Multiple firms (including National Bank Financial, Canaccord, ATB Cormark and RBC) have raised price targets and given buy/outperform ratings, leaving a consensus target of C$240.25.
• Solid recent results: The company reported C$1.98 EPS and C$254.09M revenue for the quarter, with a market cap of C$2.92B, P/E of 40.44, ROE 28.43% and net margin 8.73%.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$198.95 and traded as high as C$246.04. Hammond Power Solutions shares last traded at C$245.48, with a volume of 111,210 shares.

Wall Street Analyst Weigh In

HPS.A has been the subject of several research analyst reports. National Bank Financial boosted their price objective on Hammond Power Solutions from C$220.00 to C$235.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 7th. Canaccord Genuity Group boosted their price objective on Hammond Power Solutions from C$223.00 to C$226.00 and gave the stock a "buy" rating in a research report on Monday, March 23rd. ATB Cormark Capital Markets boosted their price objective on Hammond Power Solutions from C$235.00 to C$250.00 in a research report on Wednesday, February 18th. Finally, Royal Bank Of Canada set a C$250.00 price objective on Hammond Power Solutions and gave the stock an "outperform" rating in a research report on Monday, April 13th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Hammond Power Solutions presently has an average rating of "Buy" and a consensus target price of C$240.25.

Hammond Power Solutions Stock Up 8.4%

The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06. The stock has a market capitalization of C$2.92 billion, a P/E ratio of 40.44 and a beta of 0.93. The firm has a 50 day moving average of C$198.95 and a 200-day moving average of C$178.25.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last issued 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 firm had revenue of C$254.09 million for the quarter. On average, equities research analysts expect that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current fiscal 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.

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