Forgent Power Solutions (NYSE:FPS) Stock Rating Upgraded by Wells Fargo & Company

Forgent Power Solutions (NYSE:FPS) was upgraded by equities research analysts at Wells Fargo & Company to a “hold” rating in a research note issued on Thursday, Zacks reports.

Several other equities research analysts have also issued reports on FPS. KeyCorp reiterated an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. TD Cowen raised their price objective on Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Wolfe Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Zacks Research lowered Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Weiss Ratings raised Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, September 17th. One equities research 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.00.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $38.96 on Thursday. The firm has a market cap of $11.86 billion and a P/E ratio of 99.89. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. Forgent Power Solutions has a twelve month low of $25.95 and a twelve month high of $66.00. The firm’s 50 day moving average price is $34.89 and its two-hundred day moving average price is $40.38.

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, beating analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The company 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. On average, analysts forecast that Forgent Power Solutions will post 1.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Spyglass Capital Management LLC acquired a new position in shares of Forgent Power Solutions during the 2nd quarter worth about $39,401,000. Tidal Investments LLC acquired a new stake in Forgent Power Solutions in the 2nd quarter valued at about $7,858,000. Scholtz & Company LLC bought a new position in Forgent Power Solutions during the second quarter worth about $1,892,000. Moore Capital Management LP acquired a new position in Forgent Power Solutions during the second quarter worth approximately $10,401,000. Finally, Amundi acquired a new position in Forgent Power Solutions during the second quarter worth approximately $8,695,000.

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.