Forgent Power Solutions (NYSE:FPS) Stock Sees Unusually High Call Option Buying

Forgent Power Solutions, Inc. (NYSE:FPS) was the target of unusually large options trading activity on Wednesday. Investors acquired 14,142 call options on the stock. This represents an increase of 32% compared to the typical daily volume of 10,722 call options.

Hedge Funds Weigh In On Forgent Power Solutions

Several hedge funds and other institutional investors have recently made changes to their positions in FPS. Value Aligned Research Advisors LLC purchased a new stake in Forgent Power Solutions during the 2nd quarter worth $176,441,000. William Blair Investment Management LLC increased its holdings in Forgent Power Solutions by 16.3% in the 3rd quarter. William Blair Investment Management LLC now owns 2,925,175 shares of the company’s stock valued at $109,519,000 after purchasing an additional 408,905 shares in the last quarter. Phoenix Financial Ltd. raised its position in Forgent Power Solutions by 50.0% in the third quarter. Phoenix Financial Ltd. now owns 2,493,924 shares of the company’s stock valued at $93,374,000 after purchasing an additional 831,707 shares during the period. State Street Corp purchased a new position in Forgent Power Solutions in the second quarter valued at about $118,073,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Forgent Power Solutions by 177.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after purchasing an additional 1,216,571 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FPS shares. Jefferies Financial Group lowered their target price on shares of Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Robert W. Baird began coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price target on the stock. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 7th. Wells Fargo & Company assumed coverage on shares of Forgent Power Solutions in a report on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 price target on the stock. Finally, TD Cowen boosted their price objective on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. Three research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.21.

Forgent Power Solutions Trading Up 14.6%

NYSE FPS opened at $24.61 on Thursday. Forgent Power Solutions has a one year low of $17.67 and a one year high of $66.00. The company’s 50 day moving average price is $31.98 and its 200 day moving average price is $38.10. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54.

Forgent Power Solutions (NYSE:FPS) last released its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $461.67 million during 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. As a group, equities research analysts forecast that Forgent Power Solutions will post 1.29 earnings per share for the current fiscal year.

About Forgent Power Solutions

Forgent Power Solutions designs and manufactures electrical power distribution equipment for applications that require reliable, continuous power. Its products support the delivery and management of electricity within facilities, including data centers and other commercial and industrial environments. The company focuses on equipment used in critical power systems, where dependable distribution is essential to operations. Forgent serves customers primarily in North America, with products and services supporting facilities in other markets as well.