Forgent Power Solutions (NYSE:FPS) Downgraded by Zacks Research to “Hold”

Forgent Power Solutions (NYSE:FPS) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Tuesday, Zacks reports.

Several other equities analysts have also commented on FPS. TD Cowen boosted their price target on Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. KeyCorp lifted their price objective on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Wolfe Research restated an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Barclays raised their price target 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. Finally, Weiss Ratings lowered shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Trading Down 3.8%

NYSE FPS opened at $31.07 on Tuesday. Forgent Power Solutions has a one year low of $25.95 and a one year high of $66.00. The company’s 50 day moving average price is $36.93 and its 200 day moving average price is $40.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. The firm has a market capitalization of $9.46 billion and a price-to-earnings ratio of 207.11.

Hedge Funds Weigh In On Forgent Power Solutions

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Spyglass Capital Management LLC acquired a new position in Forgent Power Solutions during the 2nd quarter valued at approximately $39,401,000. Moore Capital Management LP bought a new stake in Forgent Power Solutions in the second quarter valued at $10,401,000. Tribune Investment Group LP acquired a new stake in shares of Forgent Power Solutions in the 2nd quarter worth about $3,614,000. Value Aligned Research Advisors LLC bought a new stake in Forgent Power Solutions in the 2nd quarter valued at about $176,441,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in Forgent Power Solutions during the 2nd quarter valued at about $5,369,000.

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.