Hammond Power Solutions (TSE:HPS.A) Trading Up 28.8% - Should You Buy?

Key Points

• Hammond Power Solutions' stock surged 28.8% on Friday, reaching a high of C$190.51 after closing at C$140.83, with trading volume increasing by 695% compared to the average session.
• The company received an "outperform" rating from National Bankshares, who also raised its price target from C$140.00 to C$150.00, contributing to an average "Buy" rating with a consensus price target of C$152.00.
• Hammond Power Solutions has a market cap of C$2.14 billion and maintains a healthy financial status with a current ratio of 2.03 and a PE ratio of 26.83.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s stock price traded up 28.8% during trading on Friday . The company traded as high as C$190.51 and last traded at C$181.33. 400,483 shares changed hands during mid-day trading, an increase of 695% from the average session volume of 50,345 shares. The stock had previously closed at C$140.83.

Analyst Ratings Changes

Separately, National Bankshares lifted their price objective 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 currently 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 cap 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. The stock has a 50-day moving average price of C$124.43 and a 200 day moving average price of C$113.60.

Insider Transactions at Hammond Power Solutions

In other Hammond Power Solutions news, Senior Officer John Henry Bailey sold 325 shares of the business'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 completion of the sale, the insider owned 31 shares of the company's stock, valued at approximately C$3,622.35. The trade was a 91.29% decrease in their ownership of the stock. Company insiders own 6.02% of the company's stock.

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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