Hammond Power Solutions (TSE:HPS.A) Share Price Crosses Below 50-Day Moving Average – Here’s What Happened

Hammond Power Solutions Inc. (TSE:HPS.A) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of C$171.22 and traded as low as C$160.36. Hammond Power Solutions shares last traded at C$161.28, with a volume of 58,841 shares.

Analysts Set New Price Targets

HPS.A has been the subject of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Hammond Power Solutions from C$154.00 to C$211.00 and gave the company a “buy” rating in a research report on Monday, October 27th. National Bankshares upped their price target on shares of Hammond Power Solutions from C$150.00 to C$195.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of C$184.67.

Hammond Power Solutions Stock Up 2.4%

The company has a debt-to-equity ratio of 10.76, a current ratio of 2.03 and a quick ratio of 1.06. The company has a market cap of C$1.97 billion, a PE ratio of 24.35 and a beta of 0.64. The business’s 50 day moving average is C$170.24 and its 200-day moving average is C$143.90.

Hammond Power Solutions (TSE:HPS.A) last announced its quarterly earnings data on Thursday, October 23rd. The company reported C$1.46 EPS for the quarter. The company had revenue of C$218.34 million for the quarter. Hammond Power Solutions had a net margin of 8.73% and a return on equity of 28.43%. As a group, analysts predict that Hammond Power Solutions Inc. will post 7.4221267 EPS for the current 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.