Forgent Power Solutions (NYSE:FPS) Raised to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Forgent Power Solutions to “strong buy” from “hold.” The stock carries a MarketBeat consensus rating of “moderate buy,” with an average analyst price target of $55.43.
• FPS shares opened at $39.76 and were down 2.2%, while the company reported quarterly EPS of $0.25, beating estimates by $0.01. Revenue reached $461.67 million, up 94.3% year over year.
• Institutional interest increased, with several major investors initiating positions and Bank of New York Mellon expanding its stake by 813% during the second quarter.

Forgent Power Solutions (NYSE:FPS - Get Free Report) was upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating in a note issued to investors on Wednesday, Zacks reports.

FPS has been the topic of several other research reports. KeyCorp reissued an "overweight" rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Oppenheimer reiterated an "outperform" rating and set a $60.00 price target on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Sanford C. Bernstein began coverage on shares of Forgent Power Solutions in a research note on Friday, October 2nd. They issued an "outperform" rating and a $48.00 price objective for the company. Wells Fargo & Company initiated coverage on Forgent Power Solutions in a research report on Thursday, September 24th. They set an "equal weight" rating and a $44.00 target price for the company. Finally, Robert W. Baird started coverage on Forgent Power Solutions in a research note on Wednesday, July 15th. They set an "outperform" rating and a $55.00 target price on the stock. Two 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $55.43.

Forgent Power Solutions Trading Down 2.2%

Shares of FPS stock opened at $39.76 on Wednesday. The company has a market cap of $12.10 billion and a PE ratio of 101.94. Forgent Power Solutions has a 1 year low of $25.95 and a 1 year high of $66.00. The stock's 50 day simple moving average is $35.42 and its two-hundred day simple moving average is $40.71. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last released its 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. The firm had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.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. Research analysts predict that Forgent Power Solutions will post 1.24 earnings per share for the current year.

Institutional Investors Weigh In On Forgent Power Solutions

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Value Aligned Research Advisors LLC bought a new position in Forgent Power Solutions in the 2nd quarter worth about $176,441,000. State Street Corp bought a new stake in shares of Forgent Power Solutions during the second quarter valued at approximately $118,073,000. Spyglass Capital Management LLC bought a new stake in shares of Forgent Power Solutions during the second quarter valued at approximately $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Forgent Power Solutions in the second quarter valued at approximately $23,123,000. Finally, Bank of New York Mellon Corp grew its stake in Forgent Power Solutions by 813.0% in the second quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company's stock worth $18,228,000 after purchasing an additional 290,577 shares in the last quarter.

About Forgent Power Solutions

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company's products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.

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