Forgent Power Solutions (NYSE:FPS) Upgraded to “Strong-Buy” at Sanford C. Bernstein

Forgent Power Solutions (NYSE:FPS) was upgraded by equities research analysts at Sanford C. Bernstein to a “strong-buy” rating in a research report issued to clients and investors on Friday, Zacks reports.

FPS has been the topic of a number of other research reports. Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, September 17th. Zacks Research downgraded shares of Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Wolfe Research restated an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a report on Thursday, July 9th. Robert W. Baird began coverage on Forgent Power Solutions in a report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 target price on the stock. Finally, KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $55.43.

Forgent Power Solutions Price Performance

Shares of Forgent Power Solutions stock opened at $40.27 on Friday. The business has a 50 day moving average of $34.82 and a 200 day moving average of $40.52. Forgent Power Solutions has a 52 week low of $25.95 and a 52 week high of $66.00. The company has a market cap of $12.26 billion and a PE ratio of 103.25. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86.

Forgent Power Solutions (NYSE:FPS) last released its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. The business had revenue of $461.67 million for the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The company’s quarterly revenue was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. As a group, equities research analysts forecast that Forgent Power Solutions will post 1.27 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Value Aligned Research Advisors LLC bought a new stake in Forgent Power Solutions in the second quarter worth $176,441,000. State Street Corp bought a new position in shares of Forgent Power Solutions during the second quarter valued at $118,073,000. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions in the 2nd quarter worth about $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Forgent Power Solutions in the 2nd quarter worth about $23,123,000. Finally, Bank of New York Mellon Corp boosted its stake in Forgent Power Solutions by 813.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock worth $18,228,000 after purchasing an additional 290,577 shares in the last quarter.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.