Forgent Power Solutions (NYSE:FPS) Shares Gap Down – What’s Next?

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) gapped down prior to trading on Tuesday . The stock had previously closed at $54.99, but opened at $52.56. Forgent Power Solutions shares last traded at $52.9230, with a volume of 1,068,790 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. TD Cowen increased their price target on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Jefferies Financial Group upped their target price on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 29th. TD Securities reaffirmed a “buy” rating and issued a $63.00 target price on shares of Forgent Power Solutions in a research note on Friday, May 15th. KeyCorp lifted their price target on Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group upped their price objective on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.36.

Forgent Power Solutions Price Performance

The company has a market cap of $15.20 billion and a PE ratio of 332.85. The company has a fifty day moving average of $49.97.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.