Forgent Power Solutions (NYSE:FPS) Stock Price Target Lowered at JPMorgan Chase & Co.

Key Points

• JPMorgan cut its price target on Forgent Power Solutions from $49 to $35 but maintained an Overweight rating; the new target implied 44.89% upside from the prior close.
• Analyst views remain broadly positive: MarketBeat reports a Moderate Buy consensus and an average price target of $53.21, though one firm recently downgraded the stock to Sell.
• Forgent reported quarterly EPS of $0.25, slightly above estimates, while revenue rose 94.3% year over year to $461.67 million. Shares traded at $24.16 on Wednesday.

Forgent Power Solutions (NYSE:FPS - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $49.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 44.89% from the stock's previous close.

A number of other equities analysts also recently weighed in on FPS. Weiss Ratings downgraded shares of Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 2nd. KeyCorp reiterated an "overweight" rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Roth Capital began coverage on shares of Forgent Power Solutions in a research note on Friday, November 6th. They set a "buy" rating on the stock. Sanford C. Bernstein started coverage on shares of Forgent Power Solutions in a report on Friday, October 2nd. They issued an "outperform" rating and a $48.00 price target for the company. Finally, Jefferies Financial Group reduced their price objective on Forgent Power Solutions from $47.00 to $36.00 and set a "buy" rating on the stock in a report on Friday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.21.

Forgent Power Solutions Price Performance

Shares of NYSE:FPS traded up $2.68 during midday trading on Wednesday, reaching $24.16. The company's stock had a trading volume of 2,858,603 shares, compared to its average volume of 7,194,973. Forgent Power Solutions has a fifty-two week low of $17.67 and a fifty-two week high of $66.00. The company has a market capitalization of $7.35 billion and a P/E ratio of 61.78. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. The business's fifty day simple moving average is $32.07 and its 200-day simple moving average is $38.17.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last released its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $461.67 million during the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The firm's revenue for the quarter 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. As a group, equities research analysts expect that Forgent Power Solutions will post 1.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Forgent Power Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the business. Value Aligned Research Advisors LLC bought a new position in Forgent Power Solutions in the second quarter valued at approximately $176,441,000. State Street Corp bought a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at $118,073,000. Assenagon Asset Management S.A. raised its position in shares of 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 acquiring an additional 1,216,571 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in shares of Forgent Power Solutions by 50.0% in the 3rd quarter. Phoenix Financial Ltd. now owns 2,493,924 shares of the company's stock valued at $93,374,000 after purchasing an additional 831,707 shares during the period. Finally, Spyglass Capital Management LLC acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at $39,401,000.

About Forgent Power Solutions

Forgent Power Solutions designs and manufactures electrical power distribution equipment for applications that require reliable, continuous power. Its products support the delivery and management of electricity within facilities, including data centers and other commercial and industrial environments. The company focuses on equipment used in critical power systems, where dependable distribution is essential to operations. Forgent serves customers primarily in North America, with products and services supporting facilities in other markets as well.

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