Forgent Power Solutions (NYSE:FPS) Shares Down 8.1% – Time to Sell?

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price traded down 8.1% on Friday . The company traded as low as $54.36 and last traded at $53.9650. 2,686,947 shares were traded during trading, a decline of 45% from the average daily volume of 4,861,021 shares. The stock had previously closed at $58.70.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FPS. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group lifted their price objective on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research raised Forgent Power Solutions to a “hold” rating in a report on Tuesday, March 10th. Morgan Stanley raised their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Sunday, May 17th. Finally, Jefferies Financial Group boosted their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research note 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. According to MarketBeat, Forgent Power Solutions currently has an average rating of “Moderate Buy” and an average target price of $55.36.

Forgent Power Solutions Stock Performance

The firm’s 50-day simple moving average is $48.31.

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.