Forgent Power Solutions (NYSE:FPS) Shares Climb 6.2% Following Analyst Upgrade

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price shot up 6.2% on Tuesday after Clear Str upgraded the stock to a strong-buy rating. The stock traded as high as $26.63 and last traded at $26.6770. 1,517,357 shares changed hands during trading, a decline of 78% from the average session volume of 6,968,605 shares. The stock had previously closed at $25.12.

FPS has been the subject of a number of other reports. Robert W. Baird began coverage on Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price target for the company. Sanford C. Bernstein started coverage on Forgent Power Solutions in a research report on Friday, October 2nd. They set an “outperform” rating and a $48.00 price target for the company. Morgan Stanley set a $45.00 target price on Forgent Power Solutions in a report on Friday, October 16th. Weiss Ratings downgraded shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Finally, Wells Fargo & Company began coverage on shares of Forgent Power Solutions in a report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Forgent Power Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Hedge Funds Weigh In On Forgent Power Solutions

Institutional investors have recently modified their holdings of the company. Tidal Investments LLC bought a new stake in shares of Forgent Power Solutions in the second quarter valued at approximately $7,858,000. Spyglass Capital Management LLC bought a new stake in Forgent Power Solutions in the second quarter valued at about $39,401,000. Scholtz & Company LLC bought a new stake in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $1,892,000. Moore Capital Management LP bought a new stake in Forgent Power Solutions in the second quarter valued at $10,401,000. Finally, Amundi bought a new stake in shares of Forgent Power Solutions in the 2nd quarter worth about $8,695,000.

Forgent Power Solutions Trading Up 8.5%

The company’s fifty day moving average price is $33.68 and its two-hundred day moving average price is $38.94. The company has a market cap of $8.91 billion and a price-to-earnings ratio of 75.08. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86.

Forgent Power Solutions (NYSE:FPS) last released its quarterly 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. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The business had revenue of $461.67 million for the quarter. Forgent Power Solutions’s quarterly revenue 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. Research analysts expect that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current year.

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.