Forgent Power Solutions (NYSE:FPS) Shares Gap Down – What’s Next?

Forgent Power Solutions, Inc. (NYSE:FPS) shares gapped down prior to trading on Tuesday . The stock had previously closed at $54.99, but opened at $52.56. Forgent Power Solutions shares last traded at $52.9230, with a volume of 1,068,790 shares changing hands.

Analyst Ratings Changes

FPS has been the subject of a number of analyst reports. Wolfe Research set a $48.00 target price on Forgent Power Solutions in a research note on Monday, March 2nd. TD Cowen lifted their price target on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Jefferies Financial Group upped their price objective on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings raised Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley boosted their target price on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Sunday, May 17th. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Forgent Power Solutions Price Performance

The business’s fifty day moving average price is $49.21. The company has a market capitalization of $17.26 billion and a P/E ratio of 377.50.

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.