Forgent Power Solutions (NYSE:FPS) Hits New 12-Month High – Still a Buy?

Forgent Power Solutions, Inc. (NYSE:FPS) shares hit a new 52-week high during trading on Monday . The company traded as high as $66.25 and last traded at $64.0630, with a volume of 34103 shares. The stock had previously closed at $63.41.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TD Securities reiterated a “buy” rating and set a $63.00 price target on shares of Forgent Power Solutions in a research report on Friday, May 15th. Wolfe Research set a $48.00 price objective on shares of Forgent Power Solutions in a research note on Monday, March 2nd. The Goldman Sachs Group lifted their target price 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. KeyCorp increased their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. Finally, Barclays lifted their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Ten equities research 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.82.

Forgent Power Solutions Stock Down 1.7%

The stock’s fifty day moving average is $46.10.

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.