Forgent Power Solutions, Inc. (NYSE:FPS – Get Free Report)’s stock price dropped 6.2% during mid-day trading on Wednesday . The stock traded as low as $55.55 and last traded at $53.58. Approximately 822,040 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,858,117 shares. The stock had previously closed at $57.15.
Wall Street Analyst Weigh In
FPS has been the subject of several recent analyst reports. Oppenheimer raised their target price on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. JPMorgan Chase & Co. initiated coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $40.00 target price for the company. Wolfe Research set a $48.00 target price on shares of Forgent Power Solutions in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Forgent Power Solutions to a “hold” rating in a research note on Monday, February 16th. Finally, Jefferies Financial Group raised 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 note on Friday, May 29th. Ten research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $52.82.
View Our Latest Stock Analysis on Forgent Power Solutions
Forgent Power Solutions Stock Performance
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.
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