Forgent Power Solutions (NYSE:FPS) Stock Moved Up to Hold by Wells Fargo & Company

Wells Fargo & Company upgraded shares of Forgent Power Solutions (NYSE:FPS) to a hold rating in a report released on Thursday morning,Zacks reports.

Several other research analysts have also weighed in on FPS. Zacks Research lowered Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Oppenheimer reissued an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Wolfe Research restated an “outperform” rating and set a $60.00 target price on shares of Forgent Power Solutions in a report on Thursday, July 9th. Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 17th. Finally, TD Cowen increased their price target on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Forgent Power Solutions Price Performance

Shares of NYSE FPS opened at $38.96 on Thursday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. The business has a 50-day moving average of $34.89 and a 200-day moving average of $40.38. The stock has a market capitalization of $11.86 billion and a price-to-earnings ratio of 99.89. Forgent Power Solutions has a fifty-two week low of $25.95 and a fifty-two week high of $66.00.

Forgent Power Solutions (NYSE:FPS) last released its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter. The company’s 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, sell-side analysts predict that Forgent Power Solutions will post 1.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FPS. Value Aligned Research Advisors LLC acquired a new position in shares of Forgent Power Solutions during the 2nd quarter worth approximately $176,441,000. State Street Corp acquired a new stake in Forgent Power Solutions during the 2nd quarter valued at $118,073,000. Spyglass Capital Management LLC bought a new position in Forgent Power Solutions during the second quarter worth $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Forgent Power Solutions in the second quarter valued at $23,123,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Forgent Power Solutions by 813.0% in the second 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.

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.