Forgent Power Solutions (NYSE:FPS) Upgraded at Zacks Research

Forgent Power Solutions (NYSE:FPS) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company started coverage on shares of Forgent Power Solutions in a report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price objective on the stock. Wolfe Research restated an “outperform” rating and set a $60.00 target price on shares of Forgent Power Solutions in a report on Thursday, July 9th. KeyCorp reaffirmed an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Oppenheimer reiterated an “outperform” rating and issued a $60.00 price target on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Finally, TD Cowen boosted their price target on Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $55.43.

Forgent Power Solutions Stock Down 2.2%

Shares of Forgent Power Solutions stock opened at $39.76 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. Forgent Power Solutions has a 1 year low of $25.95 and a 1 year high of $66.00. The firm’s 50-day moving average is $35.42 and its two-hundred day moving average is $40.71. The stock has a market cap of $12.10 billion and a price-to-earnings ratio of 101.94.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.24 by $0.01. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The business had revenue of $461.67 million during the quarter. The business’s quarterly revenue was up 94.3% on a year-over-year basis. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. As a group, research analysts expect that Forgent Power Solutions will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

A number of large investors have recently made changes to their positions in FPS. Tidal Investments LLC purchased a new stake in shares of Forgent Power Solutions during the second quarter worth about $7,858,000. Spyglass Capital Management LLC acquired a new stake in shares of Forgent Power Solutions during the second quarter worth about $39,401,000. Scholtz & Company LLC purchased a new stake in Forgent Power Solutions in the second quarter valued at approximately $1,892,000. Moore Capital Management LP acquired a new stake in shares of Forgent Power Solutions in the second quarter worth $10,401,000. Finally, Amundi acquired a new stake in Forgent Power Solutions during the 2nd quarter worth about $8,695,000.

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.