Forgent Power Solutions (NYSE:FPS) Shares Down 6.2% – Time to Sell?

Forgent Power Solutions, Inc. (NYSE:FPS) shares dropped 6.2% on Wednesday . The company traded as low as $55.55 and last traded at $53.58. Approximately 822,040 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 4,858,117 shares. The stock had previously closed at $57.15.

Analyst Upgrades and Downgrades

FPS has been the subject of a number of research reports. Bank of America initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $48.00 target price for the company. Oppenheimer increased their target price on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. JPMorgan Chase & Co. initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set an “overweight” rating and a $40.00 target price for the company. TD Cowen initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $45.00 target price for the company. Finally, Zacks Research upgraded Forgent Power Solutions to a “hold” rating in a report on Tuesday, March 10th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $52.82.

Forgent Power Solutions Stock Performance

The firm has a 50 day moving average price of $41.23.

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.