Forgent Power Solutions (NYSE:FPS) Shares Gap Down – Here’s Why

Forgent Power Solutions, Inc. (NYSE:FPS) shares gapped down before the market opened on Wednesday . The stock had previously closed at $35.78, but opened at $33.38. Forgent Power Solutions shares last traded at $32.7550, with a volume of 1,328,744 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Barclays assumed coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set an “overweight” rating and a $44.00 target price on the stock. TD Cowen began coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set a “buy” rating and a $45.00 price objective for the company. Bank of America assumed coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $48.00 price target on the stock. Oppenheimer boosted their price objective on shares of Forgent Power Solutions from $42.00 to $43.00 and gave the stock an “outperform” rating in a report on Tuesday, March 17th. Finally, KeyCorp initiated coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $41.00 price target for the company. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.40.

Forgent Power Solutions Price Performance

About Forgent Power Solutions

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.