Hammond Power Solutions (TSE:HPS.A) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of C$255.28 and traded as low as C$245.88. Hammond Power Solutions shares last traded at C$255.11, with a volume of 31,199 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Acumen Capital increased their target price on Hammond Power Solutions from C$345.00 to C$365.00 and gave the stock a “buy” rating in a report on Tuesday, June 30th. Raymond James Financial set a C$405.00 price target on Hammond Power Solutions and gave the company an “outperform” rating in a research note on Tuesday, June 30th. National Bank Financial upped their price target on Hammond Power Solutions from C$325.00 to C$355.00 and gave the company an “outperform” rating in a research report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. set a C$430.00 price objective on Hammond Power Solutions and gave the stock an “overweight” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of C$371.86.

Hammond Power Solutions Stock Down 0.2%

The company has a market cap of C$3.27 billion, a P/E ratio of 53.12 and a beta of 1.20. 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 has a fifty day moving average price of C$254.07 and a 200 day moving average price of C$266.40.

Hammond Power Solutions (TSE:HPS.A) last released its quarterly earnings results on Thursday, July 30th. The company reported C$2.76 earnings per share (EPS) for the quarter. The business 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%. 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 (‘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.