Hammond Power Solutions (TSE:HPS.A) Stock Price Up 27.5% – Time to Buy?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price rose 27.5% during mid-day trading on Saturday . The company traded as high as C$190.51 and last traded at C$179.52. Approximately 457,940 shares changed hands during trading, an increase of 804% from the average daily volume of 50,685 shares. The stock had previously closed at C$140.83.

Wall Street Analysts Forecast Growth

Separately, National Bankshares lifted their price objective on Hammond Power Solutions from C$140.00 to C$150.00 and gave the company an “outperform” rating in a research note on Friday, September 12th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hammond Power Solutions presently has a consensus rating of “Buy” and a consensus price target of C$152.00.

Hammond Power Solutions Stock Performance

The firm has a fifty day moving average price of C$125.48 and a 200 day moving average price of C$114.35. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The stock has a market cap of C$2.14 billion, a PE ratio of 26.83 and a beta of 1.17.

Insider Activity at Hammond Power Solutions

In other news, Senior Officer John Henry Bailey sold 325 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of C$116.85, for a total transaction of C$37,976.25. Following the completion of the sale, the insider owned 31 shares in the company, valued at approximately C$3,622.35. This represents a 91.29% decrease in their position. Corporate insiders own 6.02% of the company’s stock.

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.