Forgent Power Solutions, Inc.’s (NYSE:FPS) Lock-Up Period Will End on August 4th

Forgent Power Solutions’ (NYSE:FPS) lock-up period is set to end on Tuesday, August 4th. Forgent Power Solutions had issued 56,000,000 shares in its public offering on February 5th. The total size of the offering was $1,512,000,000 based on an initial share price of $27.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Barclays increased their price objective on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 15th. The Goldman Sachs Group upped their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. TD Cowen increased their price target on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings cut shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Trading Down 10.1%

Shares of FPS stock opened at $29.13 on Thursday. Forgent Power Solutions has a 12 month low of $25.95 and a 12 month high of $66.00. The firm has a market capitalization of $8.87 billion and a price-to-earnings ratio of 194.19. The stock’s 50 day simple moving average is $50.17.

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.