Clear Str Upgrades Forgent Power Solutions (NYSE:FPS) to “Strong-Buy”

Forgent Power Solutions (NYSE:FPS) was upgraded by equities researchers at Clear Str to a “strong-buy” rating in a research note issued to investors on Monday, Zacks reports.

Several other equities research analysts have also commented on the stock. Wells Fargo & Company initiated coverage on shares of Forgent Power Solutions in a report on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 price target on the stock. Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Wolfe Research reissued an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a report on Thursday, July 9th. KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Finally, TD Cowen upped their target price on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $54.21.

Forgent Power Solutions Trading Up 7.4%

Shares of NYSE FPS opened at $26.99 on Monday. The company has a 50 day simple moving average of $33.82 and a two-hundred day simple moving average of $38.99. The stock has a market cap of $8.22 billion and a price-to-earnings ratio of 69.20. Forgent Power Solutions has a 12 month low of $23.16 and a 12 month high of $66.00.

Forgent Power Solutions (NYSE:FPS) last released its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $461.67 million during the quarter. The company’s revenue for the quarter was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. Analysts forecast that Forgent Power Solutions will post 1.28 EPS for the current year.

Institutional Investors Weigh In On Forgent Power Solutions

Several hedge funds have recently modified their holdings of FPS. WPG Advisers LLC increased its position in shares of Forgent Power Solutions by 417.6% in the third quarter. WPG Advisers LLC now owns 1,144 shares of the company’s stock valued at $43,000 after buying an additional 923 shares in the last quarter. Moody Aldrich Partners LLC purchased a new position in shares of Forgent Power Solutions during the 3rd quarter valued at approximately $3,529,000. Oppenheimer & Co. Inc. lifted its position in shares of Forgent Power Solutions by 62.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 25,512 shares of the company’s stock valued at $955,000 after buying an additional 9,827 shares in the last quarter. Park Avenue Securities LLC grew its stake in Forgent Power Solutions by 19.2% in the 3rd quarter. Park Avenue Securities LLC now owns 13,052 shares of the company’s stock valued at $489,000 after acquiring an additional 2,106 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new stake in Forgent Power Solutions in the 3rd quarter valued at $221,000.

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.