Lisanti Capital Growth LLC purchased a new position in Forgent Power Solutions, Inc. (NYSE:FPS – Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 102,260 shares of the company’s stock, valued at approximately $3,829,000.
A number of other hedge funds also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in Forgent Power Solutions during the 2nd quarter valued at about $30,000. Triumph Capital Management bought a new stake in Forgent Power Solutions during the 2nd quarter valued at about $39,000. GAMMA Investing LLC raised its holdings in Forgent Power Solutions by 918.5% in the third quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 845 shares during the last quarter. City State Bank purchased a new position in Forgent Power Solutions in the third quarter worth about $32,000. Finally, IFP Advisors Inc bought a new position in shares of Forgent Power Solutions in the second quarter worth approximately $48,000.
Forgent Power Solutions Stock Performance
Shares of FPS opened at $24.61 on Thursday. The firm has a market capitalization of $7.49 billion and a P/E ratio of 63.11. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. Forgent Power Solutions, Inc. has a one year low of $17.67 and a one year high of $66.00. The business has a fifty day moving average of $31.98 and a 200 day moving average of $38.10.
Forgent Power Solutions (NYSE:FPS – Get Free Report) last posted its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. Forgent Power Solutions’s revenue for the quarter 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, sell-side analysts anticipate that Forgent Power Solutions, Inc. will post 1.29 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on FPS. Clear Str upgraded shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. Jefferies Financial Group decreased their price objective on shares of Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Morgan Stanley set a $45.00 price objective on shares of Forgent Power Solutions in a report on Friday, October 16th. Roth Capital assumed coverage on Forgent Power Solutions in a research report on Friday, November 6th. They issued a “buy” rating on the stock. Finally, KeyCorp reiterated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.
Read Our Latest Analysis on FPS
About Forgent Power Solutions
Forgent Power Solutions designs and manufactures electrical power distribution equipment for applications that require reliable, continuous power. Its products support the delivery and management of electricity within facilities, including data centers and other commercial and industrial environments. The company focuses on equipment used in critical power systems, where dependable distribution is essential to operations. Forgent serves customers primarily in North America, with products and services supporting facilities in other markets as well.
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