Hammond Power Solutions (TSE:HPS.A) Trading 31.7% Higher - Should You Buy?

Key Points

• Hammond Power Solutions Inc. saw its stock price soar by 31.7% to C$185.47, following exceptional trading volume, indicating strong investor interest.
• National Bankshares has raised its target price for the stock from C$140.00 to C$150.00, maintaining an "outperform" rating among a consensus of analysts who rate the stock as a "Buy."
• The company's market capitalization stands at C$2.16 billion, with a PE ratio of 27.12, reflecting its financial health and growth potential in the electrical and electronic industries.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) traded up 31.7% during trading on Friday . The company traded as high as C$190.51 and last traded at C$185.47. 308,323 shares were traded during trading, an increase of 518% from the average session volume of 49,912 shares. The stock had previously closed at C$140.83.

Wall Street Analysts Forecast Growth

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

Hammond Power Solutions Stock Performance

The firm has a market capitalization of C$2.16 billion, a PE ratio of 27.12 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. The company's fifty day simple moving average is C$124.43 and its 200 day simple moving average is C$113.60.

Insider Buying and Selling at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the company's stock in a transaction dated 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 directly owned 31 shares in the company, valued at C$3,622.35. This represents a 91.29% decrease in their ownership of the stock. 6.02% of the stock is currently owned by corporate insiders.

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.

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