Forgent Power Solutions (NYSE:FPS) Shares Gap Up - Here's What Happened

Key Points

• Forgent Power Solutions shares jumped at the open, rising from a prior close of $37.33 to $39.57 before trading near $39.35.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $55.43; targets range from $44 to $76.
• The company slightly beat quarterly EPS estimates, reporting $0.25 versus $0.24 expected, while revenue reached $461.67 million—up 94.3% year over year.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report)'s stock price gapped up prior to trading on Friday. The stock had previously closed at $37.33, but opened at $39.57. Forgent Power Solutions shares last traded at $39.3510, with a volume of 1,312,209 shares.

Wall Street Analyst Weigh In

FPS has been the subject of a number of recent analyst reports. Wells Fargo & Company started coverage on Forgent Power Solutions in a report on Thursday, September 24th. They issued an "equal weight" rating and a $44.00 price objective for the company. Oppenheimer restated an "outperform" rating and set a $60.00 target price on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Wolfe Research reaffirmed an "outperform" rating and issued a $60.00 price target on shares of Forgent Power Solutions in a research note on Thursday, July 9th. TD Cowen lifted their price objective on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the stock a "buy" rating in a research note on Wednesday, September 16th. Finally, Sanford C. Bernstein started coverage on shares of Forgent Power Solutions in a report on Friday. They set an "outperform" rating and a $48.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.43.

Forgent Power Solutions Stock Performance

The stock has a market cap of $12.10 billion and a P/E ratio of 101.60. 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 stock's 50 day simple moving average is $34.73 and its two-hundred day simple moving average is $40.52.

Forgent Power Solutions (NYSE:FPS - Get Free Report) last issued its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 EPS 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 net margin of 5.76% and a return on equity of 24.59%. The business'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, research analysts forecast that Forgent Power Solutions, Inc. will post 1.27 EPS for the current year.

Institutional Trading of Forgent Power Solutions

A number of institutional investors have recently modified their holdings of FPS. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Forgent Power Solutions during the second quarter worth about $30,000. Triumph Capital Management bought a new stake in Forgent Power Solutions in the 2nd quarter valued at approximately $39,000. IFP Advisors Inc acquired a new position in Forgent Power Solutions during the 2nd quarter worth approximately $48,000. Hollencrest Capital Management bought a new position in shares of Forgent Power Solutions during the 2nd quarter worth approximately $56,000. Finally, Allworth Financial LP bought a new position in shares of Forgent Power Solutions during the 2nd quarter worth approximately $86,000.

Forgent Power Solutions Company Profile

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.