Hammond Power Solutions (TSE:HPS.A) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised its target on Hammond Power Solutions from C$250 to C$350 and kept an "outperform" rating, implying about a 9.86% upside from the current price.
• Four analysts now rate the stock a Buy, with a consensus average target of C$343.25 after recent target increases from Canaccord, National Bank Financial and ATB Cormark.
• Shares traded up to C$318.60 (≈+4.6%) and sit near their 52‑week high; the company reported Q EPS of C$2.08 on C$264.84M revenue, has a market cap of C$3.79B and a P/E of 52.49.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) had its target price boosted by Royal Bank Of Canada from C$250.00 to C$350.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 9.86% from the stock's current price.

A number of other research analysts also recently issued reports on the company. Canaccord Genuity Group boosted their price target on Hammond Power Solutions from C$223.00 to C$226.00 and gave the company a "buy" rating in a report on Monday, March 23rd. National Bank Financial boosted their target price on Hammond Power Solutions from C$220.00 to C$235.00 and gave the company an "outperform" rating in a research note on Tuesday, April 7th. Finally, ATB Cormark Capital Markets raised their price target on Hammond Power Solutions from C$235.00 to C$250.00 in a research note on Wednesday, February 18th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of C$343.25.

Hammond Power Solutions Trading Up 4.6%

HPS.A stock traded up C$14.12 during midday trading on Thursday, hitting C$318.60. The company had a trading volume of 48,276 shares, compared to its average volume of 88,456. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. Hammond Power Solutions has a 52 week low of C$92.47 and a 52 week high of C$326.44. The stock's 50 day moving average price is C$213.40 and its 200 day moving average price is C$188.51. The stock has a market cap of C$3.79 billion, a price-to-earnings ratio of 52.49 and a beta of 0.96.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported C$2.08 EPS for the quarter. The company had revenue of C$264.84 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. As a group, equities research analysts expect that Hammond Power Solutions will post 7.4221267 earnings per share for the current fiscal year.

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. 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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