Forgent Power Solutions (NYSE:FPS) Shares Gap Down – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS) gapped down before the market opened on Wednesday. The stock had previously closed at $27.14, but opened at $25.12. Forgent Power Solutions shares last traded at $23.7570, with a volume of 1,887,368 shares traded.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FPS. Morgan Stanley set a $45.00 price target on shares of Forgent Power Solutions in a report on Friday, October 16th. Zacks Research raised Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. JPMorgan Chase & Co. dropped their price target on Forgent Power Solutions from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday, October 9th. Oppenheimer reissued an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Finally, TD Cowen raised their target price on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Forgent Power Solutions Stock Performance

The company has a market capitalization of $6.70 billion and a price-to-earnings ratio of 56.66. The stock has a fifty day moving average price of $33.13 and a two-hundred day moving average price of $38.66. 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 posted its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The firm’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, analysts forecast that Forgent Power Solutions, Inc. will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

A number of institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at $30,000. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions during the 2nd quarter worth $39,000. City State Bank acquired a new stake in shares of Forgent Power Solutions during the 3rd quarter worth $32,000. IFP Advisors Inc purchased a new position in shares of Forgent Power Solutions in the 2nd quarter worth $48,000. Finally, GAMMA Investing LLC raised its position in shares of Forgent Power Solutions by 918.5% in the 3rd quarter. GAMMA Investing LLC now owns 937 shares of the company’s stock worth $35,000 after buying an additional 845 shares during the period.

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.