Hammond Power Solutions (TSE:HPS.A) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of C$129.56 and traded as high as C$137.87. Hammond Power Solutions shares last traded at C$136.72, with a volume of 25,971 shares traded.

Analysts Set New Price Targets

A number of equities research analysts recently commented on HPS.A shares. National Bankshares increased their price objective on shares of Hammond Power Solutions from C$170.00 to C$175.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Canaccord Genuity Group raised their price target on shares of Hammond Power Solutions from C$167.00 to C$169.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Acumen Capital raised their price target on shares of Hammond Power Solutions from C$156.00 to C$160.00 and gave the stock a “buy” rating in a research note on Tuesday, September 24th.

Hammond Power Solutions Price Performance

The company’s fifty day moving average is C$130.05 and its 200 day moving average is C$120.49. 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 stock has a market cap of C$1.28 billion, a PE ratio of 25.40 and a beta of 0.84.

Hammond Power Solutions Company Profile

Hammond Power Solutions Inc, together with its subsidiaries, designs, manufactures, and sells dry-type, cast resin, and liquid filled transformers, as well as wound magnetic products for the electrical and related industries. The company provides control and automation products, including molded machine tool industrial control, industrial open core and coil control, general purpose enclosed, encapsulated control, and energy efficient drive isolation transformers, as well as reactors, DV/DT filters, and motor starting autotransformers.