Hammond Power Solutions (TSE:HPS.A) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$268.35 and traded as high as C$331.27. Hammond Power Solutions shares last traded at C$329.10, with a volume of 43,814 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HPS.A shares. JPMorgan Chase & Co. set a C$430.00 target price on shares of Hammond Power Solutions and gave the company an “overweight” rating in a research note on Thursday, May 28th. Royal Bank Of Canada raised their price target on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. ATB Cormark Capital Markets raised their price target on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. National Bank Financial lifted their price objective on shares of Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of C$360.60.

Hammond Power Solutions Price Performance

The stock has a 50 day moving average of C$268.35 and a two-hundred day moving average of C$209.62. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The firm has a market capitalization of C$3.92 billion, a P/E ratio of 59.73 and a beta of 0.96.

Hammond Power Solutions (TSE:HPS.A) last issued its quarterly earnings data on Tuesday, May 5th. The company reported C$2.08 earnings per share for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%.The business had revenue of C$264.84 million for the quarter. Sell-side analysts predict that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current fiscal year.

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. The company operates in various geographical markets including Canada, the United States, Mexico, and India in which it derives majority revenue in the United States and Mexico.