Hammond Power Solutions (TSE:HPS.A) Stock Breaks Above Fifty Day Moving Average – Time to Sell?

Shares of Hammond Power Solutions Inc. (TSE:HPS.A) crossed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of C$253.82 and traded as high as C$292.22. Hammond Power Solutions shares last traded at C$287.09, with a volume of 56,595 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HPS.A. Raymond James Financial set a C$405.00 price target on shares of Hammond Power Solutions and gave the company an “outperform” rating in a research note on Tuesday, June 30th. National Bank Financial upped their price objective on shares of 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, Acumen Capital increased their price objective on shares of Hammond Power Solutions from C$345.00 to C$365.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Seven investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$371.86.

Hammond Power Solutions Trading Up 2.2%

The company has a 50 day simple moving average of C$253.64 and a 200 day simple moving average of C$269.65. 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 company has a market capitalization of C$3.44 billion, a PE ratio of 55.85 and a beta of 1.20.

Hammond Power Solutions (TSE:HPS.A) last announced its earnings results on Thursday, July 30th. The company reported C$2.76 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%. Analysts anticipate 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.