Forgent Power Solutions (NYSE:FPS) Price Target Raised to $76.00

by · The Markets Daily

Forgent Power Solutions (NYSE:FPS – Free Report) had its price objective lifted by TD Cowen from $73.00 to $76.00 in a research report released on Wednesday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Jefferies Financial Group upped their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research note on Friday, May 29th. Wolfe Research reissued an “outperform” rating and issued a $60.00 price target on shares of Forgent Power Solutions in a report on Thursday, July 9th. Robert W. Baird started coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective for the company. Weiss Ratings downgraded shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. Finally, Zacks Research lowered shares of Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $57.00.

Read Our Latest Stock Analysis on FPS

Forgent Power Solutions Stock Up 3.6%

FPS stock opened at $39.44 on Wednesday. Forgent Power Solutions has a twelve month low of $25.95 and a twelve month high of $66.00. The company has a quick ratio of 1.16, a current ratio of 1.54 and a debt-to-equity ratio of 0.86. The company has a market cap of $12.01 billion and a PE ratio of 262.90. The business’s 50-day simple moving average is $35.14 and its 200 day simple moving average is $40.21.

Forgent Power Solutions (NYSE:FPS – Get Free Report) last posted its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The firm had revenue of $461.67 million during the quarter. The firm’s revenue for the quarter 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. On average, research analysts anticipate that Forgent Power Solutions will post 1.01 earnings per share for the current year.

Institutional Investors Weigh In On Forgent Power Solutions

A number of large investors have recently bought and sold shares of the business. Value Aligned Research Advisors LLC acquired a new stake in Forgent Power Solutions during the 2nd quarter valued at $176,441,000. Spyglass Capital Management LLC acquired a new position in Forgent Power Solutions in the second quarter worth $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forgent Power Solutions in the second quarter worth $23,123,000. Bank of New York Mellon Corp grew its holdings in shares of Forgent Power Solutions by 813.0% during the second quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock worth $18,228,000 after purchasing an additional 290,577 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at $13,440,000.

Forgent Power Solutions Company Profile

(Get Free Report)

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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