Forgent Power Solutions (NYSE:FPS) Sees Unusually-High Trading Volume – What’s Next?

Forgent Power Solutions, Inc. (NYSE:FPS) saw strong trading volume on Thursday . 8,643,656 shares changed hands during mid-day trading, an increase of 70% from the previous session’s volume of 5,090,541 shares.The stock last traded at $48.80 and had previously closed at $49.90.

Wall Street Analyst Weigh In

FPS has been the topic of several analyst reports. Barclays raised their target price on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Oppenheimer upped their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. TD Securities reiterated a “buy” rating and set a $63.00 price objective on shares of Forgent Power Solutions in a research note on Friday, May 15th. Jefferies Financial Group boosted their target price on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, The Goldman Sachs Group upped their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Forgent Power Solutions Stock Down 4.2%

The firm has a market cap of $14.55 billion and a P/E ratio of 318.28. The firm’s 50 day moving average price is $49.97.

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.