Forgent Power Solutions, Inc. (NYSE:FPS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Forgent Power Solutions, Inc. (NYSE:FPS) has earned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $56.75.

Several equities research analysts recently issued reports on FPS shares. The Goldman Sachs Group lifted their price target on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. KeyCorp upped their price objective on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Barclays raised their target price on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Robert W. Baird started coverage on Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price target on the stock. Finally, Jefferies Financial Group increased their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 29th.

Forgent Power Solutions Stock Performance

Shares of FPS stock opened at $33.18 on Monday. The stock has a market capitalization of $10.10 billion and a P/E ratio of 221.20. The company has a fifty day moving average price of $44.11. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. Forgent Power Solutions has a twelve month low of $25.95 and a twelve month high of $66.00.

Institutional Trading of Forgent Power Solutions

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in Forgent Power Solutions in the second quarter valued at $510,943,000. Value Aligned Research Advisors LLC acquired a new position in Forgent Power Solutions during the 2nd quarter worth $176,441,000. Spyglass Capital Management LLC acquired a new position in Forgent Power Solutions during the 2nd quarter worth $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Forgent Power Solutions in the 2nd quarter worth about $23,123,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Forgent Power Solutions by 813.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock valued at $18,228,000 after purchasing an additional 290,577 shares in the last quarter.

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.