Forgent Power Solutions (NYSE:FPS) Trading Down 5.5% – Here’s Why

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) were down 5.5% during mid-day trading on Monday . The company traded as low as $37.63 and last traded at $37.2880. Approximately 1,608,823 shares changed hands during trading, a decline of 75% from the average session volume of 6,517,895 shares. The stock had previously closed at $39.44.

Analysts Set New Price Targets

A number of research analysts have recently commented on FPS shares. Zacks Research lowered Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Robert W. Baird started coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective for the company. TD Cowen raised their target price on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday. Finally, Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Forgent Power Solutions Price Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. The company’s 50 day moving average price is $35.14 and its 200-day moving average price is $40.24. The company has a market cap of $11.45 billion and a price-to-earnings ratio of 251.65.

Forgent Power Solutions (NYSE:FPS) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $461.67 million during the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The business’s revenue for the quarter was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, equities research analysts forecast that Forgent Power Solutions, Inc. will post 1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Forgent Power Solutions

Institutional investors and hedge funds have recently modified their holdings of the stock. Spyglass Capital Management LLC acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at $39,401,000. Tidal Investments LLC purchased a new stake in Forgent Power Solutions during the second quarter valued at about $7,858,000. Scholtz & Company LLC acquired a new position in shares of Forgent Power Solutions in the second quarter worth about $1,892,000. Moore Capital Management LP acquired a new position in shares of Forgent Power Solutions in the second quarter worth about $10,401,000. Finally, Amundi purchased a new position in shares of Forgent Power Solutions in the second quarter worth approximately $8,695,000.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company’s product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.