Forgent Power Solutions (NYSE:FPS) Shares Gap Up – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price gapped up prior to trading on Friday. The stock had previously closed at $37.33, but opened at $39.57. Forgent Power Solutions shares last traded at $39.3510, with a volume of 1,312,209 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Sanford C. Bernstein began coverage on Forgent Power Solutions in a report on Friday. They set an “outperform” rating and a $48.00 target price on the stock. Wells Fargo & Company started coverage on Forgent Power Solutions in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 price target for the company. Finally, Robert W. Baird began coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.43.

Forgent Power Solutions Stock Performance

The company’s fifty day simple moving average is $34.73 and its two-hundred day simple moving average is $40.52. 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 stock has a market capitalization of $12.10 billion and a P/E ratio of 101.60.

Forgent Power Solutions (NYSE:FPS) last posted its earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The firm’s revenue for the quarter was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. As a group, equities analysts forecast that Forgent Power Solutions, Inc. will post 1.27 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in shares of Forgent Power Solutions in the second quarter valued at about $7,408,000. State Street Corp acquired a new stake in Forgent Power Solutions in the 2nd quarter worth about $118,073,000. The Manufacturers Life Insurance Company acquired a new stake in Forgent Power Solutions in the 2nd quarter worth about $846,000. Tidal Investments LLC bought a new stake in Forgent Power Solutions in the 2nd quarter valued at about $7,858,000. Finally, MCF Advisors LLC acquired a new position in shares of Forgent Power Solutions during the 2nd quarter worth approximately $1,000,000.

About Forgent Power Solutions

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.