Hammond Power Solutions (TSE:HPS.A) Reaches New 52-Week High – Should You Buy?

Hammond Power Solutions Inc. (TSE:HPS.A) hit a new 52-week high on Monday . The company traded as high as C$225.00 and last traded at C$217.01, with a volume of 40618 shares. The stock had previously closed at C$182.43.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HPS.A. Canaccord Genuity Group lifted their price target on Hammond Power Solutions from C$223.00 to C$226.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. ATB Cormark Capital Markets lifted their target price on shares of Hammond Power Solutions from C$235.00 to C$250.00 in a research report on Wednesday, February 18th. Finally, National Bank Financial raised their price objective on shares of Hammond Power Solutions from C$215.00 to C$220.00 and gave the company an “outperform” rating in a research report on Monday, March 23rd. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of C$232.00.

Hammond Power Solutions Trading Up 12.8%

The stock has a fifty day moving average of C$190.84 and a two-hundred day moving average of C$170.51. The company has a market capitalization of C$2.45 billion, a PE ratio of 33.91 and a beta of 0.93. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76.

Hammond Power Solutions (TSE:HPS.A) last issued its earnings results on Thursday, March 19th. The company reported C$1.98 earnings per share (EPS) 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$254.09 million during the quarter. As a group, sell-side analysts anticipate that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current fiscal year.

About Hammond Power Solutions

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.