Forgent Power Solutions (NYSE:FPS) Reaches New 1-Year High – Here’s What Happened

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) hit a new 52-week high during trading on Wednesday . The stock traded as high as $45.50 and last traded at $45.3950, with a volume of 1701926 shares trading hands. The stock had previously closed at $43.01.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Zacks Research raised Forgent Power Solutions to a “hold” rating in a research note on Tuesday, March 10th. Wall Street Zen raised Forgent Power Solutions to a “hold” rating in a research note on Monday, February 16th. The Goldman Sachs Group started coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $48.00 price target for the company. Bank of America started coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $48.00 price target for the company. Finally, Jefferies Financial Group started coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $44.00 price target for the company. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Forgent Power Solutions presently has an average rating of “Moderate Buy” and a consensus target price of $43.40.

Forgent Power Solutions Price Performance

The firm has a 50-day moving average price of $34.18.

About Forgent Power Solutions

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.