Hammond Power Solutions (TSE:HPS.A) Sets New 52-Week High – Time to Buy?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as C$365.12 and last traded at C$365.00, with a volume of 7754 shares trading hands. The stock had previously closed at C$339.71.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada increased 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 research note on Thursday, May 7th. Canaccord Genuity Group boosted their price target 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, May 7th. JPMorgan Chase & Co. set a C$430.00 price objective on Hammond Power Solutions and gave the company an “overweight” rating in a research note on Thursday, May 28th. National Bank Financial increased their price objective on Hammond Power Solutions from C$325.00 to C$355.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Finally, ATB Cormark Capital Markets lifted their target price on Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of C$366.60.

Hammond Power Solutions Price Performance

The company has a market cap of C$3.99 billion, a price-to-earnings ratio of 60.80 and a beta of 1.38. The company’s 50 day moving average price is C$301.31 and its 200 day moving average price is C$223.59. 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 posted its quarterly earnings results on Tuesday, May 5th. The company reported C$2.08 earnings per share (EPS) for the quarter. The firm had revenue of C$264.84 million during the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. Equities research analysts forecast that Hammond Power Solutions Inc. will post 7.4221267 earnings per share for the current 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.