Hammond Power Solutions Addresses Impact of U.S. Tariff Changes

The latest announcement is out from Hammond Power Solutions ( ($TSE:HPS.A) ).

Hammond Power Solutions Inc. has announced that the recently expanded U.S. tariffs on steel and aluminum derivative products will affect certain materials and components in its products. The company believes these tariffs will have a uniform impact across the industry and plans to work with customers and suppliers to manage the additional costs. Despite potential short-term implications, HPS does not expect a material impact on its business and remains focused on its long-term strategy to grow market share in the U.S. and select global markets.

The most recent analyst rating on ($TSE:HPS.A) stock is a Buy with a C$144.00 price target. To see the full list of analyst forecasts on Hammond Power Solutions stock, see the TSE:HPS.A Stock Forecast page.

Spark’s Take on TSE:HPS.A Stock

According to Spark, TipRanks’ AI Analyst, TSE:HPS.A is a Outperform.

Hammond Power Solutions demonstrates strong financial performance and positive earnings call highlights, driving the overall score. However, technical indicators and valuation metrics suggest moderate caution due to potential cost pressures and low dividend yield.

To see Spark’s full report on TSE:HPS.A stock, click here.

More about Hammond Power Solutions

Hammond Power Solutions Inc. (HPS) is a company that enables electrification through its wide range of dry-type transformers, power quality products, and related magnetics. Their products are essential in electrical distribution networks and are used in various end-user applications globally. HPS operates manufacturing plants in Canada, the United States, Mexico, and India, and its shares are listed on the Toronto Stock Exchange under the symbol HPS.A.

Average Trading Volume: 47,773

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$1.41B

Find detailed analytics on HPS.A stock on TipRanks’ Stock Analysis page.