Hammond Power Solutions (TSE:HPS.A) Share Price Passes Below 200 Day Moving Average – Time to Sell?

Hammond Power Solutions Inc. (TSE:HPS.A) shares crossed below its 200-day moving average during trading on Friday . The stock has a 200-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.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HPS.A. Acumen Capital raised their target price on Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. National Bank Financial upped their price target on 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. Raymond James Financial set a C$405.00 price target on Hammond Power Solutions and gave the company an “outperform” rating in a research report on Tuesday, June 30th. Finally, 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 report on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, According to data from MarketBeat, Hammond Power Solutions presently has a consensus rating of “Buy” and a consensus target price of C$371.86.

Hammond Power Solutions Stock Up 2.5%

The stock has a fifty day moving average of C$264.34 and a 200 day moving average of C$262.90. 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 firm has a market capitalization of C$3.02 billion, a P/E ratio of 49.10 and a beta of 1.20.

Hammond Power Solutions (TSE:HPS.A) last released its earnings results on Thursday, July 30th. The company reported C$2.76 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%. On average, research analysts anticipate that Hammond Power Solutions Inc. will post 7.4221267 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.