Forgent Power Solutions (NYSE:FPS) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Forgent Power Solutions (NYSE:FPS) from a hold rating to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks reports.

A number of other research firms have also weighed in on FPS. Weiss Ratings lowered shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Wolfe Research reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Forgent Power Solutions in a research report on Thursday, July 9th. 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 objective on the stock. Wells Fargo & Company assumed coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 price objective for the company. Finally, KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.43.

Forgent Power Solutions Stock Down 2.2%

Shares of NYSE:FPS opened at $39.76 on Wednesday. The business’s 50 day moving average is $35.42 and its 200 day moving average is $40.71. The stock has a market cap of $12.10 billion and a P/E ratio of 101.94. 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.

Forgent Power Solutions (NYSE:FPS) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, beating 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 during the quarter. The firm’s 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. Sell-side analysts predict that Forgent Power Solutions will post 1.24 EPS for the current year.

Institutional Trading of Forgent Power Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the business. Value Aligned Research Advisors LLC acquired a new stake in shares of Forgent Power Solutions in the 2nd quarter worth $176,441,000. State Street Corp purchased a new position in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $118,073,000. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions in the 2nd quarter valued at approximately $39,401,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $23,123,000. Finally, Bank of New York Mellon Corp grew its position in 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 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.