Hammond Power Solutions (TSE:HPS.A) Shares Up 27.5% - Still a Buy?

Key Points

• Hammond Power Solutions' shares increased by 27.5% during trading, reaching a high of C$190.51 before closing at C$179.52, significantly higher than its previous closing price of C$140.83.
• Analysts have generally rated the stock as a "Buy," with National Bankshares raising the target price from C$140.00 to C$150.00, indicating positive market sentiment.
• Despite the recent surge in stock price, insider selling was noted, with Senior Officer John Henry Bailey significantly reducing his stake in the company.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s share price shot up 27.5% during mid-day trading on Saturday . The company traded as high as C$190.51 and last traded at C$179.52. 457,940 shares were traded during trading, an increase of 804% from the average session volume of 50,685 shares. The stock had previously closed at C$140.83.

Wall Street Analyst Weigh In

Separately, National Bankshares upped 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of C$152.00.

Hammond Power Solutions Stock Up 27.5%

The company has a market cap of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17. The company has a fifty day moving average of C$125.48 and a two-hundred day moving average of C$114.35. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03.

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 completion of the sale, the insider 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.

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.

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