Hammond Power Solutions (TSE:HPS.A) Trading Up 27.5% – Here’s Why

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

Analysts Set New Price Targets

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

Hammond Power Solutions Stock Performance

The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76. The firm has a market capitalization of C$2.14 billion, a price-to-earnings ratio of 26.83 and a beta of 1.17. The company has a 50-day moving average of C$125.48 and a 200-day moving average of C$114.35.

Insider Buying and Selling

In related news, Senior Officer John Henry Bailey sold 325 shares of the company’s 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 transaction, the insider directly owned 31 shares in the company, valued at C$3,622.35. This represents a 91.29% decrease in their position. 6.02% of the stock is currently owned by insiders.

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.