Forgent Power Solutions, Inc. (NYSE:FPS – Get Free Report) shares reached a new 52-week low on Thursday. The stock traded as low as $21.31 and last traded at $20.5470, with a volume of 323,375 shares changing hands. The stock had previously closed at $22.44.
Analyst Ratings Changes
FPS has been the topic of several recent research reports. Jefferies Financial Group cut their price target on Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. JPMorgan Chase & Co. cut their price objective on shares of Forgent Power Solutions from $56.00 to $49.00 and set an “overweight” rating on the stock in a report on Friday, October 9th. Wolfe Research reiterated an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Morgan Stanley set a $45.00 target price on shares of Forgent Power Solutions in a research report on Friday, October 16th. Finally, Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $54.21.
Forgent Power Solutions Stock Down 14.4%
The stock’s 50-day moving average price is $32.93 and its two-hundred day moving average price is $38.57. The stock has a market capitalization of $5.85 billion and a P/E ratio of 49.93. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86.
Forgent Power Solutions (NYSE:FPS – Get Free Report) last released its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The business had revenue of $461.67 million during the quarter. Forgent Power Solutions’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, research analysts expect that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Forgent Power Solutions
Institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Forgent Power Solutions in the second quarter worth about $30,000. City State Bank bought a new stake in shares of Forgent Power Solutions in the third quarter worth about $32,000. GAMMA Investing LLC increased its holdings in Forgent Power Solutions by 918.5% during the 3rd quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after purchasing an additional 845 shares during the period. Triumph Capital Management bought a new position in shares of Forgent Power Solutions during the second quarter valued at approximately $39,000. Finally, WPG Advisers LLC raised its holdings in Forgent Power Solutions by 417.6% in the 3rd quarter. WPG Advisers LLC now owns 1,144 shares of the company’s stock worth $43,000 after purchasing an additional 923 shares in the last quarter.
Forgent Power Solutions Company Profile
Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.
Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.
The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.
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