Hammond Power Solutions (TSE:HPS.A) Shares Pass Below 50-Day Moving Average - Here's What Happened

Key Points

• Hammond Power Solutions shares fell below their 50-day moving average, reaching C$245.88 before last trading at C$255.11 on volume of 31,199 shares.
• Analysts remain bullish: seven analysts rate the stock a Buy, with a consensus target of C$371.86. Recent targets range from C$355 to C$430.
• The company reported quarterly EPS of C$2.76 on revenue of C$324.8 million, alongside a 28.43% return on equity and an 8.73% net margin.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report)'s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of C$255.28 and traded as low as C$245.88. Hammond Power Solutions shares last traded at C$255.11, with a volume of 31,199 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. National Bank Financial increased their target price on shares of Hammond Power Solutions from C$325.00 to C$355.00 and gave the stock an "outperform" rating in a report on Wednesday, June 10th. Acumen Capital upped their price target on shares of Hammond Power Solutions from C$345.00 to C$365.00 and gave the stock a "buy" rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. set a C$430.00 price objective on shares of Hammond Power Solutions and gave the stock an "overweight" rating in a research note on Thursday, May 28th. Finally, Raymond James Financial set a C$405.00 price objective on shares of Hammond Power Solutions and gave the stock an "outperform" rating in a research note on Tuesday, June 30th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of "Buy" and an average target price of C$371.86.

Hammond Power Solutions Stock Performance

The stock has a market cap of C$3.04 billion, a P/E ratio of 49.34 and a beta of 1.20. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The business has a 50 day moving average price of C$255.28 and a two-hundred day moving average price of C$265.15.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported C$2.76 earnings per share (EPS) for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%.The firm had revenue of C$324.80 million during the quarter. On average, sell-side analysts forecast that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current fiscal year.

About Hammond Power Solutions

Hammond Power Solutions Inc ('HPS' or the 'Company') enables electrification through its broad range of dry-type transformers, power quality products and related magnetic and power conversion systems. HPS' standard and custom-designed products are essential and ubiquitous in electrical distribution networks through an extensive range of end-user applications. The Company has manufacturing plants in North America, Europe and Asia and sells its products around the globe.

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