Hammond Power Solutions (TSE:HPS.A) Shares Pass Below 50 Day Moving Average – Here’s Why

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of C$318.81 and traded as low as C$307.31. Hammond Power Solutions shares last traded at C$309.24, with a volume of 66,013 shares.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Acumen Capital upped their price objective on Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a research note on Tuesday, June 30th. National Bank Financial raised their target price 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. Canaccord Genuity Group boosted 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 note on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 price target on Hammond Power Solutions and gave the company an “overweight” rating in a research report on Thursday, May 28th. Finally, Raymond James Financial set a C$405.00 price target on Hammond Power Solutions and gave the stock an “outperform” rating in a research note on Tuesday, June 30th. Seven equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of C$371.86.

Hammond Power Solutions Stock Up 1.2%

The stock’s 50 day moving average is C$319.49 and its 200 day moving average is C$237.02. The company has a market capitalization of C$3.73 billion, a PE ratio of 56.79 and a beta of 1.35. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03.

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 business 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%. On average, sell-side analysts anticipate that Hammond Power Solutions Inc. will post 7.4221267 EPS 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.