ATB Cormark Capital Markets Forecasts Strong Price Appreciation for Hammond Power Solutions (TSE:HPS.A) Stock

Hammond Power Solutions (TSE:HPS.A) had its target price hoisted by ATB Cormark Capital Markets from C$250.00 to C$350.00 in a report issued on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the stock. ATB Cormark Capital Markets’ target price would suggest a potential upside of 9.86% from the company’s current price.

HPS.A has been the topic of a number of other research reports. Royal Bank Of Canada upped their target price on shares of Hammond Power Solutions from C$250.00 to C$350.00 and gave the stock an “outperform” rating in a report on Thursday. Canaccord Genuity Group lifted their target price on Hammond Power Solutions from C$226.00 to C$348.00 and gave the company a “buy” rating in a research report on Thursday. Finally, National Bank Financial increased their price target on Hammond Power Solutions from C$235.00 to C$325.00 and gave the company an “outperform” rating in a research report on Thursday. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$343.25.

Hammond Power Solutions Stock Up 4.6%

HPS.A stock traded up C$14.12 during midday trading on Thursday, reaching C$318.60. 48,276 shares of the company’s stock traded hands, compared to its average volume of 88,456. The company has a quick ratio of 1.06, a current ratio of 2.03 and a debt-to-equity ratio of 10.76. The firm’s fifty day moving average price is C$213.40 and its 200-day moving average price is C$188.51. Hammond Power Solutions has a 52 week low of C$92.47 and a 52 week high of C$326.44. The company has a market cap of C$3.79 billion, a price-to-earnings ratio of 52.49 and a beta of 0.96.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings data on Tuesday, May 5th. The company reported C$2.08 earnings per share for the quarter. The firm had revenue of C$264.84 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. As a group, sell-side analysts forecast that Hammond Power Solutions 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.