Hammond Power Solutions (TSE:HPS.A) Trading 29.8% Higher - Still a Buy?

Key Points

• Hammond Power Solutions Inc. experienced a significant price increase of 29.8%, closing at C$182.86 after hitting a peak of C$190.51.
• Analysts at National Bankshares raised their price target from C$140.00 to C$150.00, maintaining an "outperform" rating for the stock, which has a consensus price target of C$152.00.
• Company insiders own 6.02% of the stock, with Senior Officer John Henry Bailey recently selling 325 shares, resulting in a 91.29% decrease in his position.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) traded up 29.8% during trading on Friday . The company traded as high as C$190.51 and last traded at C$182.86. 365,439 shares were traded during mid-day trading, an increase of 628% from the average session volume of 50,165 shares. The stock had previously closed at C$140.83.

Wall Street Analysts Forecast Growth

Separately, National Bankshares increased their price target on 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 equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of C$152.00.

Hammond Power Solutions Trading Up 27.5%

The stock has a market capitalization of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17. The firm has a 50-day moving average price of C$124.43 and a 200-day moving average price of C$113.60. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76.

Insiders Place Their Bets

In related news, Senior Officer John Henry Bailey sold 325 shares of Hammond Power Solutions stock in a transaction dated 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 sale, the insider owned 31 shares of the company's stock, valued at approximately C$3,622.35. This trade represents a 91.29% decrease in their position. Company insiders own 6.02% of the company's stock.

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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