Hammond Power Solutions (TSE:HPS.A) Stock Breaks Above 200 Day Moving Average - What's Next?

Key Points

• Hammond Power Solutions shares crossed above their 200-day moving average of C$250.90, reaching C$254.23 before last trading at C$251.64 on volume of 89,597 shares.
• Analysts remain bullish: ATB Cormark raised its price target to C$400 and National Bank Financial to C$380, while seven analysts rate the stock a Buy. The consensus target is C$382.57.
• The company reported quarterly EPS of C$2.76 on revenue of C$324.8 million, with a 28.43% return on equity and 8.73% net margin; analysts forecast full-year EPS of C$7.42.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$250.90 and traded as high as C$254.23. Hammond Power Solutions shares last traded at C$251.64, with a volume of 89,597 shares.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HPS.A shares. ATB Cormark Capital Markets increased their price objective on Hammond Power Solutions from C$350.00 to C$400.00 and gave the stock an "outperform" rating in a research note on Friday, October 9th. National Bank Financial upped their price objective on shares of Hammond Power Solutions from C$355.00 to C$380.00 and gave the stock an "outperform" rating in a report on Tuesday, October 13th. Seven 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 an average target price of C$382.57.

Hammond Power Solutions Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The company has a market cap of C$3.00 billion, a P/E ratio of 48.67 and a beta of 0.94. The firm's fifty day moving average price is C$255.12 and its 200-day moving average price is C$250.90.

Hammond Power Solutions (TSE:HPS.A - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$2.76 EPS for the quarter. The firm had revenue of C$324.80 million during the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. As a group, research analysts forecast that Hammond Power Solutions Inc. will post 7.42 EPS 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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