Hammond Power Solutions (TSE:HPS.A) Shares Up 26.3% - Time to Buy?

Key Points

• Hammond Power Solutions' stock surged 26.3% to C$177.81, with trading volume up 142% compared to average session volume.
• National Bankshares raised the company's target price from C$140.00 to C$150.00, maintaining an "outperform" rating.
• Currently, Hammond Power Solutions has an average rating of "Buy" and a consensus price target of C$152.00 from analysts.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shot up 26.3% during trading on Friday . The company traded as high as C$177.81 and last traded at C$177.81. 117,409 shares were traded during trading, an increase of 142% from the average session volume of 48,540 shares. The stock had previously closed at C$140.83.

Analysts Set New Price Targets

Separately, National Bankshares raised their target price on shares of Hammond Power Solutions from C$140.00 to C$150.00 and gave the company an "outperform" rating in a research report on Friday, September 12th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of C$152.00.

Hammond Power Solutions Stock Up 30.1%

The firm has a market capitalization of C$2.18 billion, a P/E ratio of 27.40 and a beta of 1.17. 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 business's fifty day moving average price is C$124.43 and its two-hundred day moving average price is C$113.60.

Insider Buying and Selling at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total value of C$37,976.25. Following the sale, the insider directly owned 31 shares in the company, valued at approximately C$3,622.35. This trade represents a 91.29% decrease in their position. Corporate insiders own 6.02% of the company's stock.

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.

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