Hammond Power Solutions (TSE:HPS.A) Shares Up 30.7% - Time to Buy?

Key Points

• Hammond Power Solutions Inc. shares surged by 30.7% on Friday, reaching a high of C$190.51 before closing at C$184.11, with trading volume increasing significantly by 552%.
• The company's price objective was raised from C$140.00 to C$150.00 by National Bankshares, and it currently holds an average rating of "Buy" with a price target of C$152.00 from analysts.
• Hammond Power Solutions serves the electrical industry with manufacturing plants in Canada, the United States, Mexico, and India, and has a market capitalization of C$2.16 billion.

Shares of Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shot up 30.7% on Friday . The stock traded as high as C$190.51 and last traded at C$184.11. 325,840 shares were traded during mid-day trading, an increase of 552% from the average session volume of 49,967 shares. The stock had previously closed at C$140.83.

Analyst Ratings Changes

Separately, National Bankshares lifted their price objective on Hammond Power Solutions from C$140.00 to C$150.00 and gave the stock an "outperform" rating in a report on Friday, September 12th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of C$152.00.

Hammond Power Solutions Stock Performance

The firm has a fifty day moving average of C$124.43 and a 200-day moving average of C$113.60. The stock has a market capitalization of C$2.16 billion, a price-to-earnings ratio of 27.12 and a beta of 1.17. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76.

Insider Buying and Selling at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total value of C$37,976.25. Following the completion of the transaction, the insider directly owned 31 shares of the company's stock, valued at C$3,622.35. The trade was a 91.29% decrease in their ownership of the stock. 6.02% of the stock is currently owned by company insiders.

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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