Forgent Power Solutions, Inc. (NYSE:FPS) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) have been assigned an average recommendation of “Moderate Buy” from the fourteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $57.00.

Several brokerages have recently issued reports on FPS. Oppenheimer restated an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a research note on Wednesday. Robert W. Baird began coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price for the company. Weiss Ratings downgraded Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Zacks Research lowered Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, KeyCorp reiterated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $38.00 on Friday. The stock has a 50 day moving average of $35.26 and a 200 day moving average of $40.22. The company has a market capitalization of $11.57 billion and a price-to-earnings ratio of 253.35. Forgent Power Solutions has a 12 month low of $25.95 and a 12 month high of $66.00. The company has a current ratio of 1.54, a quick ratio of 1.16 and a debt-to-equity ratio of 0.86.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $461.67 million during the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The business’s revenue was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. As a group, sell-side analysts forecast that Forgent Power Solutions will post 1.01 earnings per share for the current year.

Institutional Trading of Forgent Power Solutions

A number of hedge funds have recently bought and sold shares of FPS. Value Aligned Research Advisors LLC purchased a new position in shares of Forgent Power Solutions in the second quarter worth about $176,441,000. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions in the second quarter valued at about $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Forgent Power Solutions during the second quarter worth about $23,123,000. Bank of New York Mellon Corp raised its position in Forgent Power Solutions by 813.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock valued at $18,228,000 after purchasing an additional 290,577 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Forgent Power Solutions during the second quarter valued at approximately $13,440,000.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company’s product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.