Forgent Power Solutions (NYSE:FPS) Coverage Initiated by Analysts at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Forgent Power Solutions (NYSE:FPS) in a note issued to investors on Friday, Marketbeat reports. The firm set an “outperform” rating and a $48.00 price target on the stock. Sanford C. Bernstein’s price objective suggests a potential upside of 23.31% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. TD Cowen raised their price target on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a report on Wednesday, September 16th. Robert W. Baird began coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 target price for the company. Wolfe Research restated an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a report on Thursday, July 9th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.43.

Forgent Power Solutions Price Performance

Shares of Forgent Power Solutions stock traded down $1.42 on Friday, hitting $38.93. 4,867,096 shares of the company traded hands, compared to its average volume of 6,670,918. Forgent Power Solutions has a 12-month low of $25.95 and a 12-month high of $66.00. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The company has a market cap of $11.85 billion and a P/E ratio of 99.45. The firm’s 50-day simple moving average is $34.82 and its 200 day simple moving average is $40.56.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings data 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. The firm had revenue of $461.67 million during the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The company’s quarterly revenue 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 expect that Forgent Power Solutions will post 1.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

Large investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. bought a new stake in Forgent Power Solutions during the 2nd quarter valued at about $7,408,000. State Street Corp purchased a new stake in Forgent Power Solutions during the 2nd quarter valued at $118,073,000. The Manufacturers Life Insurance Company purchased a new position in shares of Forgent Power Solutions in the second quarter worth $846,000. Tidal Investments LLC purchased a new stake in shares of Forgent Power Solutions during the second quarter valued at $7,858,000. Finally, MCF Advisors LLC purchased a new position in Forgent Power Solutions in the 2nd quarter worth about $1,000,000.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.