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

Key Points

• Hammond Power Solutions shares fell below their 200-day moving average of C$262.90, reaching C$249.38 before last trading at C$253.85.
• Analysts remain bullish, with seven Buy ratings and a consensus price target of C$371.86; individual targets range from C$355 to C$430.
• The company reported quarterly EPS of C$2.76 on revenue of C$324.80 million, alongside a 28.43% return on equity and an 8.73% net margin.

Hammond Power Solutions Inc. (TSE:HPS.A - Get Free Report) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$262.90 and traded as low as C$249.38. Hammond Power Solutions shares last traded at C$253.85, with a volume of 32,578 shares changing hands.

Analysts Set New Price Targets

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

Hammond Power Solutions Price Performance

The stock has a market capitalization of C$3.02 billion, a PE ratio of 49.10 and a beta of 1.20. The business's 50-day moving average price is C$264.34 and its 200 day moving average price is C$262.90. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03.

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

Hammond Power Solutions Company Profile

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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