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 share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-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 trading hands.

Analyst Ratings Changes

HPS.A has been the topic of a number of research analyst reports. Acumen Capital boosted their price target on shares of Hammond Power Solutions from C$156.00 to C$160.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Canaccord Genuity Group lifted their price objective on shares of Hammond Power Solutions from C$167.00 to C$169.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, National Bankshares lifted 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 report on Tuesday, October 15th.

Hammond Power Solutions Stock Up 3.1 %

The firm has a market cap of C$1.28 billion, a PE ratio of 25.40 and a beta of 0.84. The company has a debt-to-equity ratio of 10.76, a quick ratio of 1.06 and a current ratio of 2.03. The firm’s 50-day moving average price is C$130.05 and its two-hundred day moving average price is C$120.49.

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.