Hammond Power Solutions (TSE:HPS.A) Shares Up 26.3% – Here’s What Happened

Hammond Power Solutions Inc. (TSE:HPS.A) shot up 26.3% during trading on Friday . The stock traded as high as C$177.81 and last traded at C$177.81. 117,409 shares traded hands during trading, an increase of 142% from the average session volume of 48,540 shares. The stock had previously closed at C$140.83.

Analysts Set New Price Targets

Separately, National Bankshares raised their target price on shares of 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Hammond Power Solutions currently has a consensus rating of “Buy” and a consensus target price of C$152.00.

Hammond Power Solutions Trading Up 27.5%

The stock has a market cap of C$2.14 billion, a price-to-earnings ratio of 26.83 and a beta of 1.17. 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’s fifty day moving average price is C$125.48 and its 200-day moving average price is C$114.65.

Insider Activity

In other Hammond Power Solutions news, Senior Officer John Henry Bailey sold 325 shares of the firm’s stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of C$116.85, for a total value of C$37,976.25. Following the completion of the transaction, the insider owned 31 shares of the company’s stock, valued at approximately C$3,622.35. This trade represents a 91.29% decrease in their ownership of the stock. 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.