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

Forgent Power Solutions, Inc. (NYSE:FPS) shares gapped up prior to trading on Wednesday. The stock had previously closed at $30.23, but opened at $32.57. Forgent Power Solutions shares last traded at $31.2640, with a volume of 786,701 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FPS shares. Morgan Stanley set a $45.00 price objective on Forgent Power Solutions in a research note on Friday. TD Cowen raised their target price 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. Robert W. Baird initiated coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price target on the stock. Weiss Ratings lowered shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Finally, Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.64.

Forgent Power Solutions Trading Up 2.9%

The stock has a fifty day moving average of $34.87 and a 200-day moving average of $40.87. 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 company has a market cap of $9.47 billion and a PE ratio of 80.18.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $461.67 million during the quarter. The company’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. Sell-side analysts anticipate that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

A number of large investors have recently added to or reduced their stakes in FPS. City State Bank acquired a new stake in shares of Forgent Power Solutions in the 3rd quarter worth $32,000. Pension & Wealth Management Advisors Inc. grew its stake in Forgent Power Solutions by 261.2% during the 3rd quarter. Pension & Wealth Management Advisors Inc. now owns 9,406 shares of the company’s stock worth $352,000 after buying an additional 6,802 shares during the last quarter. Fortitude Advisory Group L.L.C. acquired a new position in Forgent Power Solutions during the 3rd quarter valued at about $1,313,000. Assenagon Asset Management S.A. increased its position in Forgent Power Solutions by 177.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock valued at $71,153,000 after buying an additional 1,216,571 shares in the last quarter. Finally, Ring Mountain Capital LLC purchased a new stake in Forgent Power Solutions in the third quarter valued at about $422,000.

Forgent Power Solutions Company Profile

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.