Forgent Power Solutions (NYSE:FPS) Stock Falls 4.5% – Here’s What Happened

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) fell 4.5% during mid-day trading on Tuesday. The stock traded as low as $29.45 and last traded at $30.0950. 6,148,508 shares changed hands during mid-day trading, a decline of 9% from the average session volume of 6,726,813 shares. The stock had previously closed at $31.52.

Wall Street Analysts Forecast Growth

FPS has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on Forgent Power Solutions in a research note on Friday, October 2nd. They issued an “outperform” rating and a $48.00 target price on the stock. Weiss Ratings cut Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Wolfe Research reiterated an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a research report on Thursday, July 9th. JPMorgan Chase & Co. decreased their price target on Forgent Power Solutions from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Finally, Oppenheimer restated an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.64.

Forgent Power Solutions Stock Down 4.6%

The company has a market cap of $9.15 billion and a price-to-earnings ratio of 77.05. The company has a current ratio of 1.54, a quick ratio of 1.07 and a debt-to-equity ratio of 0.86. The business has a fifty day moving average of $35.02 and a two-hundred day moving average of $40.86.

Forgent Power Solutions (NYSE:FPS) last issued its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping 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 company had revenue of $461.67 million for 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 analysts anticipate that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FPS. Northwestern Mutual Wealth Management Co. purchased a new stake in Forgent Power Solutions during the 2nd quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in shares of Forgent Power Solutions by 918.5% in the third quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock valued at $35,000 after acquiring an additional 845 shares in the last quarter. Triumph Capital Management purchased a new position in shares of Forgent Power Solutions in the second quarter valued at approximately $39,000. IFP Advisors Inc acquired a new stake in shares of Forgent Power Solutions in the second quarter worth approximately $48,000. Finally, Gilpin Wealth Management LLC increased its position in shares of Forgent Power Solutions by 333.3% during the third quarter. Gilpin Wealth Management LLC now owns 1,300 shares of the company’s stock worth $49,000 after purchasing an additional 1,000 shares in the last quarter.

About Forgent Power Solutions

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.