Forgent Power Solutions Sees Unusually Large Options Volume (NYSE:FPS)

Forgent Power Solutions, Inc. (NYSE:FPS) saw some unusual options trading on Wednesday. Investors acquired 6,337 call options on the stock. This represents an increase of 67% compared to the average volume of 3,790 call options.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FPS. Jefferies Financial Group increased their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Wolfe Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a report on Thursday, July 9th. Robert W. Baird initiated coverage on Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price for the company. Barclays increased their price target on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Finally, Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Forgent Power Solutions currently has an average rating of “Buy” and a consensus target price of $56.75.

Forgent Power Solutions Stock Performance

FPS stock traded down $2.39 during trading on Wednesday, hitting $30.02. The stock had a trading volume of 5,228,389 shares, compared to its average volume of 6,008,958. The company has a market capitalization of $9.14 billion and a PE ratio of 198.48. The company has a 50 day moving average price of $50.49. Forgent Power Solutions has a 1-year low of $25.95 and a 1-year high of $66.00.

Forgent Power Solutions Company Profile

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.