Brokerages Set Forgent Power Solutions, Inc. (NYSE:FPS) PT at $56.75

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) have been assigned a consensus rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $56.75.

A number of brokerages have issued reports on FPS. The Goldman Sachs Group lifted their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wolfe Research restated an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Morgan Stanley increased their target price on Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a report on Sunday, May 17th. Robert W. Baird began coverage on Forgent Power Solutions in a research report on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price target for the company. Finally, Zacks Research raised Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $510,943,000. Value Aligned Research Advisors LLC purchased a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $176,441,000. Spyglass Capital Management LLC purchased a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Forgent Power Solutions in the 2nd quarter valued at $23,123,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Forgent Power Solutions by 813.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 326,317 shares of the company’s stock worth $18,228,000 after purchasing an additional 290,577 shares during the period.

Forgent Power Solutions Stock Performance

Forgent Power Solutions stock opened at $30.53 on Monday. Forgent Power Solutions has a fifty-two week low of $25.95 and a fifty-two week high of $66.00. The firm has a market capitalization of $9.29 billion and a price-to-earnings ratio of 203.53. The firm has a fifty day moving average price of $41.12. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.16.

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.