Forgent Power Solutions (NYSE:FPS) Shares Up 7% – Time to Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price shot up 7% during trading on Wednesday . The company traded as high as $64.18 and last traded at $63.5390. 1,216,826 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 4,856,926 shares. The stock had previously closed at $59.37.

Analyst Ratings Changes

A number of research firms have commented on FPS. Oppenheimer lifted their target price on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. The Goldman Sachs Group lifted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Bank of America began coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They issued a “buy” rating and a $48.00 target price on the stock. Zacks Research upgraded Forgent Power Solutions to a “hold” rating in a report on Tuesday, March 10th. Finally, TD Securities reiterated a “buy” rating and issued a $63.00 price objective on shares of Forgent Power Solutions in a report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $52.82.

Forgent Power Solutions Price Performance

The firm’s fifty day simple moving average is $44.15.

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.