Forgent Power Solutions (NYSE:FPS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) saw an uptick in trading volume on Friday . 8,640,751 shares changed hands during mid-day trading, an increase of 99% from the previous session’s volume of 4,343,710 shares.The stock last traded at $48.8630 and had previously closed at $47.56.

Wall Street Analysts Forecast Growth

FPS has been the topic of a number of research reports. Oppenheimer upped their price target on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. initiated coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 price target on the stock. Bank of America began coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $48.00 price target for the company. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Finally, Barclays raised their price objective on Forgent Power Solutions from $44.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus price target of $51.73.

Forgent Power Solutions Stock Performance

The firm has a 50 day simple moving average of $37.23.

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.