Hammond Power Solutions (TSE:HPS.A) Shares Down 10% – Time to Sell?

Hammond Power Solutions Inc. (TSE:HPS.A)’s stock price fell 10% on Wednesday . The stock traded as low as C$121.23 and last traded at C$124.85. 85,937 shares changed hands during trading, an increase of 13% from the average session volume of 76,048 shares. The stock had previously closed at C$138.79.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HPS.A shares. Canaccord Genuity Group increased their price objective on Hammond Power Solutions from C$167.00 to C$169.00 and gave the company a “buy” rating in a research report on Monday, July 29th. National Bankshares upped their target price on 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. Finally, Acumen Capital lifted their price target on 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 Trading Down 8.5 %

The firm has a market capitalization of C$1.16 billion, a price-to-earnings ratio of 22.93 and a beta of 0.84. The company has a fifty day moving average price of C$131.95 and a 200-day moving average price of C$120.03. The company has a current ratio of 2.03, a quick ratio of 1.06 and a debt-to-equity ratio of 10.76.

About Hammond Power Solutions

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.