Forgent Power Solutions (NYSE:FPS) Shares Down 4.5% – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price dropped 4.5% during mid-day trading on Tuesday. The company traded as low as $29.45 and last traded at $30.0950. Approximately 6,148,508 shares changed hands during trading, a decline of 9% from the average daily volume of 6,726,813 shares. The stock had previously closed at $31.52.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FPS. JPMorgan Chase & Co. reduced their target price on shares of Forgent Power Solutions from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Wells Fargo & Company initiated coverage on shares of Forgent Power Solutions in a research report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price target on the stock. Wolfe Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Robert W. Baird started coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective for the company. Finally, KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $55.64.

Forgent Power Solutions Stock Down 4.6%

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 business has a 50 day simple moving average of $35.02 and a 200-day simple moving average of $40.86. The firm has a market capitalization of $9.15 billion and a price-to-earnings ratio of 77.05.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share 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 firm had revenue of $461.67 million for the quarter. Forgent Power Solutions’s revenue for the quarter 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, equities analysts expect that Forgent Power Solutions, Inc. will post 1.28 EPS for the current year.

Hedge Funds Weigh In On Forgent Power Solutions

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Forgent Power Solutions during the 2nd quarter worth approximately $30,000. Triumph Capital Management acquired a new position in Forgent Power Solutions in the second quarter valued at approximately $39,000. IFP Advisors Inc purchased a new position in Forgent Power Solutions in the second quarter worth approximately $48,000. GAMMA Investing LLC grew its position in Forgent Power Solutions by 918.5% in the third quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after acquiring an additional 845 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in Forgent Power Solutions during the second quarter worth $56,000.

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.