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

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $26.99, but opened at $28.48. Forgent Power Solutions shares last traded at $27.8230, with a volume of 1,078,000 shares.

Wall Street Analyst Weigh In

Several research firms have recently commented on FPS. Clear Str upgraded shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday. Wells Fargo & Company assumed coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price objective on the stock. Robert W. Baird assumed coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price objective on the stock. TD Cowen boosted their price objective on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Finally, Weiss Ratings lowered Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Three analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Forgent Power Solutions Trading Up 2.9%

The company has a 50-day moving average of $33.82 and a 200-day moving average of $38.99. The company has a market capitalization of $8.46 billion and a price-to-earnings ratio of 70.87.

Forgent Power Solutions (NYSE:FPS) last issued its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $461.67 million during the quarter. Forgent Power Solutions’s quarterly revenue was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, research analysts expect that Forgent Power Solutions, Inc. will post 1.28 EPS for the current year.

Institutional Trading of Forgent Power Solutions

Large investors have recently bought and sold shares of the stock. Value Aligned Research Advisors LLC purchased a new stake in Forgent Power Solutions during the 2nd quarter worth approximately $176,441,000. State Street Corp purchased a new position in shares of Forgent Power Solutions in the second quarter worth $118,073,000. Assenagon Asset Management S.A. raised its holdings in shares of Forgent Power Solutions by 177.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after buying an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC acquired a new stake in shares of Forgent Power Solutions during the second quarter worth $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Forgent Power Solutions during the second quarter worth $23,123,000.

About Forgent Power Solutions

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.