Forgent Power Solutions (NYSE:FPS) Trading Down 8.1% – Time to Sell?

Forgent Power Solutions, Inc. (NYSE:FPS) traded down 8.1% on Friday . The company traded as low as $54.36 and last traded at $53.9650. Approximately 2,686,947 shares were traded during trading, a decline of 45% from the average daily volume of 4,861,021 shares. The stock had previously closed at $58.70.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wolfe Research set a $48.00 target price on Forgent Power Solutions in a report on Monday, March 2nd. Oppenheimer increased their target price on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. The Goldman Sachs Group lifted their price target 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. Barclays increased their price objective on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, TD Cowen raised their price objective on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Forgent Power Solutions Stock Performance

The stock has a fifty day simple moving average of $48.76.

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.