Forgent Power Solutions (NYSE:FPS) Stock Rating Raised to “Strong-Buy” at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Forgent Power Solutions (NYSE:FPS) to a strong-buy rating in a research report sent to investors on Friday morning,Zacks reports.

Several other research firms also recently commented on FPS. KeyCorp reiterated an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. TD Cowen increased their target price on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research note on Wednesday, September 16th. Zacks Research lowered Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Wells Fargo & Company initiated coverage on Forgent Power Solutions in a research report on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average target price of $55.43.

Forgent Power Solutions Stock Performance

Shares of FPS opened at $40.27 on Friday. The company has a market capitalization of $12.26 billion and a price-to-earnings ratio of 103.25. Forgent Power Solutions has a 52-week low of $25.95 and a 52-week high of $66.00. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86. The stock has a 50 day moving average price of $34.82 and a 200 day moving average price of $40.52.

Forgent Power Solutions (NYSE:FPS) last posted its earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The business had revenue of $461.67 million for the quarter. The company’s quarterly revenue was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. Research analysts predict that Forgent Power Solutions will post 1.27 EPS for the current fiscal year.

Institutional Trading of Forgent Power Solutions

Several hedge funds have recently modified their holdings of the business. Value Aligned Research Advisors LLC acquired a new stake in Forgent Power Solutions in the second quarter valued at $176,441,000. State Street Corp acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at about $118,073,000. Spyglass Capital Management LLC acquired a new stake in shares of Forgent Power Solutions in the second quarter valued at about $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forgent Power Solutions during the second quarter worth about $23,123,000. Finally, Bank of New York Mellon Corp increased its holdings in Forgent Power Solutions by 813.0% in the second quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock valued at $18,228,000 after buying an additional 290,577 shares in the last quarter.

About Forgent Power Solutions

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.