Hammond Power Solutions (TSE:HPS.A) Stock Price Breaks Above 50-Day Moving Average – What’s Next?

Hammond Power Solutions Inc. (TSE:HPS.A) shares crossed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of C$257.11 and traded as high as C$301.26. Hammond Power Solutions shares last traded at C$293.28, with a volume of 38,422 shares.

Wall Street Analysts Forecast Growth

HPS.A has been the topic of several analyst reports. ATB Cormark Capital Markets boosted their price target on shares of Hammond Power Solutions from C$350.00 to C$400.00 and gave the company an “outperform” rating in a report on Friday. Acumen Capital lifted their target price on shares of Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a research report on Tuesday, June 30th. Finally, Raymond James Financial set a C$405.00 target price on shares of Hammond Power Solutions and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of C$379.00.

Hammond Power Solutions Trading Up 7.3%

The company has a 50 day moving average of C$257.80 and a 200 day moving average of C$274.28. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The firm has a market cap of C$3.67 billion, a price-to-earnings ratio of 59.60 and a beta of 0.94.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings data on Thursday, July 30th. The company reported C$2.76 earnings per share (EPS) for the quarter. The firm had revenue of C$324.80 million during the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. As a group, research analysts anticipate that Hammond Power Solutions Inc. will post 7.4221267 EPS 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.