Hammond Power Solutions (TSE:HPS.A) Stock Price Up 27.5% - Here's Why

Key Points

• Hammond Power Solutions Inc. stock surged by 27.5% during mid-day trading on Friday, reaching a high of C$190.51, significantly above the previous close of C$140.83.
• National Bankshares raised its price target for Hammond Power Solutions from C$140.00 to C$150.00 and rated the stock as "outperform," contributing to a positive outlook in analyst coverage.
• The company has a market capitalization of C$2.14 billion and a current PE ratio of 26.83, indicating a solid presence in the electrical and electronic industries.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) rose 27.5% during mid-day trading on Friday . The company traded as high as C$190.51 and last traded at C$179.52. Approximately 457,940 shares changed hands during trading, an increase of 804% from the average daily volume of 50,685 shares. The stock had previously closed at C$140.83.

Analyst Upgrades and Downgrades

Separately, National Bankshares increased their price target on shares of 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hammond Power Solutions currently has an average rating of "Buy" and an average price target of C$152.00.

Hammond Power Solutions Trading Up 27.5%

The company's fifty day simple moving average is C$125.48 and its 200-day simple moving average is C$114.35. The firm has a market capitalization of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17. 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 Activity

In other news, Senior Officer John Henry Bailey sold 325 shares of Hammond Power Solutions 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 owned 31 shares in the company, valued at C$3,622.35. This trade represents 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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