Sanford C. Bernstein Upgrades Forgent Power Solutions (NYSE:FPS) to Strong-Buy

Key Points

• Sanford C. Bernstein upgraded Forgent Power Solutions to “strong buy,” adding to a generally positive analyst outlook. The stock has a consensus “Moderate Buy” rating and an average price target of $55.43.
• Forgent shares rose 7.9% and opened at $40.27, while the company reported quarterly EPS of $0.25, exceeding estimates by $0.01. Revenue reached $461.67 million, up 94.3% year over year.
• Several institutional investors, including State Street, Envestnet Asset Management and Tidal Investments, recently initiated positions in the company, signaling increased institutional interest.

Forgent Power Solutions (NYSE:FPS - Get Free Report) was upgraded by equities researchers at Sanford C. Bernstein to a "strong-buy" rating in a research note issued on Friday, Zacks reports.

FPS has been the topic of a number of other reports. TD Cowen raised their target price on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a "buy" rating in a research note on Wednesday, September 16th. Zacks Research lowered shares of Forgent Power Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. KeyCorp restated an "overweight" rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Wolfe Research reiterated an "outperform" rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Finally, Wells Fargo & Company started coverage on Forgent Power Solutions in a research note on Thursday, September 24th. They issued an "equal weight" rating and a $44.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $55.43.

Forgent Power Solutions Stock Up 7.9%

FPS opened at $40.27 on Friday. Forgent Power Solutions has a one year low of $25.95 and a one year high of $66.00. The company has a fifty day moving average price of $34.82 and a 200-day moving average price of $40.52. 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 firm has a market capitalization of $12.26 billion and a P/E ratio of 103.25.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last announced its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business 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%.The business'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. Equities research analysts expect that Forgent Power Solutions will post 1.27 earnings per share for the current fiscal year.

Institutional Trading of Forgent Power Solutions

Several hedge funds and other institutional investors have recently bought and sold shares of FPS. Envestnet Asset Management Inc. bought a new stake in Forgent Power Solutions during the 2nd quarter valued at $7,408,000. State Street Corp bought a new stake in Forgent Power Solutions in the 2nd quarter worth $118,073,000. The Manufacturers Life Insurance Company purchased a new position in shares of Forgent Power Solutions in the second quarter valued at about $846,000. Tidal Investments LLC bought a new position in shares of Forgent Power Solutions during the second quarter valued at about $7,858,000. Finally, MCF Advisors LLC bought a new position in shares of Forgent Power Solutions during the second quarter valued at about $1,000,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.