Forgent Power Solutions (NYSE:FPS) Stock Rating Upgraded by Clear Str

Key Points

• Clear Str upgraded Forgent Power Solutions to “strong buy.” The stock has a “Moderate Buy” consensus rating, with three Strong Buy, eleven Buy, two Hold, and one Sell recommendation; the consensus price target is $54.21.
• Forgent reported quarterly EPS of $0.25, exceeding estimates of $0.24, while revenue reached $461.67 million, up 94.3% year over year. Analysts expect full-year EPS of approximately $1.28.
• Shares opened at $26.99, with a market capitalization of $8.22 billion and a 52-week range of $23.16 to $66.00. Several institutional investors increased their positions or initiated new stakes during the third quarter.

Forgent Power Solutions (NYSE:FPS - Get Free Report) was upgraded by investment analysts at Clear Str to a "strong-buy" rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on FPS. KeyCorp reissued an "overweight" rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Jefferies Financial Group lowered their target price on Forgent Power Solutions from $47.00 to $36.00 and set a "buy" rating for the company in a report on Friday. JPMorgan Chase & Co. dropped their target price on 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 assumed coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They set an "equal weight" rating and a $44.00 price target on the stock. Finally, Oppenheimer reissued an "outperform" rating and set a $60.00 price target on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Three investment 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 given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $54.21.

Forgent Power Solutions Stock Up 7.4%

Shares of NYSE FPS opened at $26.99 on Monday. The firm has a market cap of $8.22 billion and a price-to-earnings ratio of 69.20. Forgent Power Solutions has a 52-week low of $23.16 and a 52-week high of $66.00. The business's 50 day moving average is $33.82 and its two-hundred day moving average is $38.99.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last released its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The firm had revenue of $461.67 million for the quarter. The business's revenue 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. Analysts anticipate that Forgent Power Solutions will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

Institutional investors and hedge funds have recently made changes to their positions in the stock. WPG Advisers LLC increased its stake in shares of Forgent Power Solutions by 417.6% during the third quarter. WPG Advisers LLC now owns 1,144 shares of the company's stock worth $43,000 after buying an additional 923 shares during the period. Moody Aldrich Partners LLC acquired a new position in Forgent Power Solutions during the 3rd quarter worth approximately $3,529,000. Oppenheimer & Co. Inc. increased its position in shares of Forgent Power Solutions by 62.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 25,512 shares of the company's stock valued at $955,000 after purchasing an additional 9,827 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Forgent Power Solutions by 19.2% in the 3rd quarter. Park Avenue Securities LLC now owns 13,052 shares of the company's stock valued at $489,000 after purchasing an additional 2,106 shares in the last quarter. Finally, Verdence Capital Advisors LLC acquired a new stake in shares of Forgent Power Solutions in the 3rd quarter valued at $221,000.

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.

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