Forgent Power Solutions (NYSE:FPS) Shares Climb 6.2% Following Analyst Upgrade

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) were up 6.2% on Tuesday after Clear Str upgraded the stock to a strong-buy rating. The stock traded as high as $26.63 and last traded at $26.6770. Approximately 1,517,357 shares were traded during mid-day trading, a decline of 78% from the average session volume of 6,968,605 shares. The stock had previously closed at $25.12.

Several other research firms also recently issued reports on FPS. Sanford C. Bernstein started coverage on shares of Forgent Power Solutions in a research note on Friday, October 2nd. They set an “outperform” rating and a $48.00 price target on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Forgent Power Solutions from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Wells Fargo & Company started coverage on shares of Forgent Power Solutions in a research report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price target on the stock. Finally, Jefferies Financial Group decreased their price target on Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

Hedge Funds Weigh In On Forgent Power Solutions

Several hedge funds and other institutional investors have recently modified their holdings of FPS. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Forgent Power Solutions in the third quarter valued at approximately $5,701,000. VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of Forgent Power Solutions by 223.2% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 54,300 shares of the company’s stock valued at $2,033,000 after buying an additional 37,500 shares during the last quarter. Brooklands Fund Management Ltd boosted its position in shares of Forgent Power Solutions by 48.9% during the third quarter. Brooklands Fund Management Ltd now owns 161,994 shares of the company’s stock worth $6,065,000 after buying an additional 53,182 shares during the period. D.A. Davidson & CO. boosted its position in shares of Forgent Power Solutions by 78.4% during the third quarter. D.A. Davidson & CO. now owns 47,479 shares of the company’s stock worth $1,778,000 after buying an additional 20,864 shares during the period. Finally, WPG Advisers LLC grew its holdings in Forgent Power Solutions by 417.6% in the 3rd quarter. WPG Advisers LLC now owns 1,144 shares of the company’s stock worth $43,000 after buying an additional 923 shares in the last quarter.

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 firm has a market capitalization of $8.91 billion and a P/E ratio of 75.08. The business has a fifty day moving average of $33.68 and a 200-day moving average of $38.94.

Forgent Power Solutions (NYSE:FPS) last announced its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The firm had revenue of $461.67 million for the quarter. The firm’s quarterly revenue was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, sell-side analysts forecast that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.