Forgent Power Solutions (NYSE:FPS) Hits New 12-Month High – What’s Next?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price hit a new 52-week high on Monday . The company traded as high as $66.25 and last traded at $64.0630, with a volume of 34103 shares. The stock had previously closed at $63.41.

Analyst Ratings Changes

A number of brokerages have recently commented on FPS. TD Cowen increased their price objective on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group upped their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Bank of America assumed coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They issued a “buy” rating and a $48.00 price target on the stock. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a research note on Tuesday, March 10th. Finally, Barclays raised their target price on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.36.

Forgent Power Solutions Stock Down 3.9%

The firm has a fifty day moving average of $47.26.

About Forgent Power Solutions

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.