Hammond Power Solutions (TSE:HPS.A) Stock Price Passes Below 200 Day Moving Average – Time to Sell?

Hammond Power Solutions Inc. (TSE:HPS.A)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$258.13 and traded as low as C$245.26. Hammond Power Solutions shares last traded at C$249.24, with a volume of 58,576 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently commented on HPS.A. National Bank Financial boosted their target price on Hammond Power Solutions from C$325.00 to C$355.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 10th. Royal Bank Of Canada raised their price target on Hammond Power Solutions from C$250.00 to C$350.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. set a C$430.00 target price on Hammond Power Solutions and gave the company an “overweight” rating in a research report on Thursday, May 28th. Acumen Capital boosted their price target on shares of Hammond Power Solutions from C$345.00 to C$365.00 and gave the stock a “buy” rating in a research report on Tuesday, June 30th. Finally, Raymond James Financial set a C$405.00 price target on shares of Hammond Power Solutions and gave the company an “outperform” rating in a research note on Tuesday, June 30th. Seven analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of C$371.86.

Hammond Power Solutions Price 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 company has a market capitalization of C$666.97 million, a PE ratio of 46.44 and a beta of 1.30. The stock’s 50-day moving average is C$294.06 and its two-hundred day moving average is C$258.56.

Hammond Power Solutions (TSE:HPS.A) last announced its earnings results on Thursday, July 30th. The company reported C$2.76 earnings per share (EPS) for the quarter. Hammond Power Solutions had a return on equity of 28.43% and a net margin of 8.73%.The business had revenue of C$324.80 million during the quarter. On average, equities 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.