Forgent Power Solutions, Inc.’s (NYSE:FPS) Lock-Up Period To End Tomorrow

Forgent Power Solutions’ (NYSE:FPS) lock-up period will end on Tuesday, August 4th. Forgent Power Solutions had issued 56,000,000 shares in its initial public offering on February 5th. The total size of the offering was $1,512,000,000 based on an initial share price of $27.00. After the expiration of Forgent Power Solutions’ lock-up period, major shareholders and company insiders will be able to sell their shares of the company.

Analyst Ratings Changes

Several brokerages have recently commented on FPS. Robert W. Baird initiated coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price for the company. The Goldman Sachs Group increased their price objective on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Weiss Ratings downgraded Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Jefferies Financial Group increased their price target on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Stock Performance

Shares of FPS stock opened at $33.14 on Monday. The business has a 50-day moving average price of $49.57. Forgent Power Solutions has a fifty-two week low of $25.95 and a fifty-two week high of $66.00. The firm has a market cap of $10.09 billion and a price-to-earnings ratio of 220.93.

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.