Hammond Power Solutions Inc. (TSE:HPS.A) Stock Now Rated “Buy” by Wall Street Brokerages

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) have been given a consensus rating of “Buy” by the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is C$379.00.

Several brokerages recently weighed in on HPS.A. Acumen Capital lifted their price target on Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. Raymond James Financial set a C$405.00 price objective on Hammond Power Solutions and gave the company an “outperform” rating in a report on Tuesday, June 30th. Finally, ATB Cormark Capital Markets boosted their price objective on Hammond Power Solutions from C$350.00 to C$400.00 and gave the company an “outperform” rating in a research report on Friday.

Hammond Power Solutions Stock Performance

HPS.A stock traded up C$21.86 during midday trading on Friday, hitting C$309.00. 61,547 shares of the stock traded hands, compared to its average volume of 76,630. Hammond Power Solutions has a 1-year low of C$127.17 and a 1-year high of C$365.12. 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 stock’s fifty day simple moving average is C$257.80 and its 200-day simple moving average is C$274.28. The firm has a market cap of C$3.68 billion, a P/E ratio of 59.77 and a beta of 0.94.

Hammond Power Solutions (TSE:HPS.A) last issued its quarterly earnings data on Thursday, July 30th. The company reported C$2.76 earnings per share for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. The business had revenue of C$324.80 million during the quarter. On average, analysts expect that Hammond Power Solutions will post 7.4221267 earnings per share for the current 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.