Hammond Power Solutions (TSE:HPS.A) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of C$250.90 and traded as high as C$254.23. Hammond Power Solutions shares last traded at C$251.64, with a volume of 89,597 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. ATB Cormark Capital Markets boosted their target price 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, October 9th. National Bank Financial raised their price objective on Hammond Power Solutions from C$355.00 to C$380.00 and gave the company an “outperform” rating in a research note on Tuesday, October 13th. Seven equities research analysts have rated the stock with a Buy rating. Based on data from MarketBeat, Hammond Power Solutions presently has an average rating of “Buy” and an average price target of C$382.57.

Hammond Power Solutions Price Performance

The firm has a market cap of C$2.74 billion, a price-to-earnings ratio of 44.46 and a beta of 0.94. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The business has a 50 day simple moving average of C$255.00 and a 200-day simple moving average of C$251.63.

Hammond Power Solutions (TSE:HPS.A) last issued its quarterly earnings data on Thursday, October 29th. The company reported C$3.13 EPS for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%. The firm had revenue of C$446.26 million during the quarter. Equities research analysts expect that Hammond Power Solutions Inc. will post 7.42 earnings per share for the current year.

Hammond Power Solutions Company Profile

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.