Forgent Power Solutions (NYSE:FPS) Trading Down 7.9% - Here's What Happened

Key Points

• Forgent Power Solutions shares fell 7.9% to about $29.30 in mid-day trading, with roughly 1.26 million shares changing hands—79% below average volume.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $56.75, although recent ratings included downgrades to “Hold” and “Sell.”
• FPS has an $8.84 billion market capitalization and trades at a high P/E ratio of 193.15; several institutional investors also initiated new positions during the second quarter.

Forgent Power Solutions, Inc. (NYSE:FPS - Get Free Report) shares traded down 7.9% during mid-day trading on Monday . The stock traded as low as $29.05 and last traded at $29.3020. Approximately 1,260,414 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 6,021,528 shares. The stock had previously closed at $31.82.

Wall Street Analysts Forecast Growth

FPS has been the subject of a number of recent research reports. Zacks Research lowered shares of Forgent Power Solutions from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Robert W. Baird assumed coverage on shares of Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an "outperform" rating and a $55.00 target price on the stock. Morgan Stanley raised their price target on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an "equal weight" rating in a research report on Sunday, May 17th. Wolfe Research reiterated an "outperform" rating and set a $60.00 price target on shares of Forgent Power Solutions in a report on Thursday, July 9th. Finally, Weiss Ratings cut shares of Forgent Power Solutions from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $56.75.

Forgent Power Solutions Trading Down 8.7%

The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. The stock has a market capitalization of $8.84 billion and a P/E ratio of 193.15. The stock has a 50-day moving average price of $36.27 and a two-hundred day moving average price of $40.25.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in FPS. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at about $30,000. Triumph Capital Management purchased a new stake in Forgent Power Solutions in the second quarter worth about $39,000. IFP Advisors Inc bought a new stake in Forgent Power Solutions during the 2nd quarter valued at approximately $48,000. Hollencrest Capital Management purchased 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 in the 2nd quarter worth approximately $86,000.

About Forgent Power Solutions

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company's product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.

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