Hammond Power Solutions (TSE:HPS.A) Shares Up 32.1% - Here's What Happened

Key Points

• Hammond Power Solutions shares surged by 32.1%, trading at C$186.00 after reaching a high of C$190.51, with a significant increase in trading volume.
• National Bankshares upgraded their price target from C$140.00 to C$150.00, maintaining an "outperform" rating, with the stock holding a consensus "Buy" rating and an average target price of C$152.00.
• The company's market cap stands at C$2.17 billion, supported by strong financial ratios, including a P/E ratio of 27.22 and a debt-to-equity ratio of 10.76.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) shares shot up 32.1% on Friday . The company traded as high as C$190.51 and last traded at C$186.00. 259,291 shares traded hands during trading, an increase of 423% from the average session volume of 49,592 shares. The stock had previously closed at C$140.83.

Wall Street Analyst Weigh In

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

Hammond Power Solutions Stock Performance

The stock has a market cap of C$2.17 billion, a P/E ratio of 27.22 and a beta of 1.17. The company has a fifty day moving average of C$124.43 and a 200 day moving average of C$113.60. The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06.

Insider Buying and Selling

In related news, Senior Officer John Henry Bailey sold 325 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total transaction of C$37,976.25. Following the sale, the insider 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 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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