Forgent Power Solutions (NYSE:FPS) Stock Rating Lowered by Zacks Research

Forgent Power Solutions (NYSE:FPS) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

FPS has been the subject of several other research reports. Jefferies Financial Group upped their target price on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Oppenheimer lifted their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Morgan Stanley increased their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a research note on Sunday, May 17th. The Goldman Sachs Group boosted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Robert W. Baird began coverage on shares of Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.75.

Forgent Power Solutions Stock Down 3.8%

Shares of NYSE FPS opened at $31.07 on Tuesday. Forgent Power Solutions has a 1 year low of $25.95 and a 1 year high of $66.00. The firm’s 50-day moving average is $36.93 and its 200-day moving average is $40.30. The company has a current ratio of 1.64, a quick ratio of 1.16 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $9.46 billion and a PE ratio of 207.11.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in Forgent Power Solutions during the second quarter worth approximately $846,000. Tidal Investments LLC acquired a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $7,858,000. MCF Advisors LLC bought a new stake in Forgent Power Solutions during the second quarter worth approximately $1,000,000. Scholtz & Company LLC bought a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $1,892,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of Forgent Power Solutions in the second quarter worth $2,095,000.

Forgent Power Solutions Company Profile

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.