Forgent Power Solutions, Inc. (NYSE:FPS) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts have a “Moderate Buy” consensus on Forgent Power Solutions, with 10 buy, two strong-buy, one hold and one sell rating among 14 analysts. The average 12-month price target is $56.75.
• Recent analyst actions were mixed but generally positive: TD Cowen raised its target to $73, while KeyCorp increased its target to $60; Wolfe Research maintained an outperform rating, but Weiss Ratings downgraded the stock to sell.
• FPS opened at $33.18 and has traded between $25.95 and $66.00 over the past year. Institutional ownership also increased, including an 813% expansion by Bank of New York Mellon in the second quarter.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $56.75.

Several research analysts recently weighed in on FPS shares. Wolfe Research reaffirmed an "outperform" rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Zacks Research raised Forgent Power Solutions from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 14th. Weiss Ratings cut Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 28th. TD Cowen increased their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Finally, KeyCorp raised their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an "overweight" rating in a report on Friday, May 15th.

Forgent Power Solutions Price Performance

Shares of FPS opened at $33.18 on Monday. Forgent Power Solutions has a fifty-two week low of $25.95 and a fifty-two week high of $66.00. The company has a fifty day moving average of $44.11. The firm has a market cap of $10.10 billion and a price-to-earnings ratio of 221.20. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64.

Hedge Funds Weigh In On Forgent Power Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in Forgent Power Solutions by 813.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company's stock valued at $18,228,000 after purchasing an additional 290,577 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Forgent Power Solutions during the second quarter worth about $2,034,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Forgent Power Solutions during the second quarter worth about $23,123,000. Hollencrest Capital Management purchased a new stake in shares of Forgent Power Solutions in the second quarter worth about $56,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at about $30,000.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.

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