Forgent Power Solutions (NYSE:FPS) Trading Up 7% – What’s Next?

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price traded up 7% on Wednesday . The stock traded as high as $64.18 and last traded at $63.5390. 1,216,826 shares changed hands during trading, a decline of 75% from the average session volume of 4,856,926 shares. The stock had previously closed at $59.37.

Analyst Ratings Changes

A number of brokerages have weighed in on FPS. The Goldman Sachs Group lifted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Bank of America assumed coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They set a “buy” rating and a $48.00 price target on the stock. Weiss Ratings upgraded Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. KeyCorp upped their price objective on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group increased their target price on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.82.

Forgent Power Solutions Stock Performance

The stock has a 50 day moving average of $45.45.

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.