Forgent Power Solutions (NYSE:FPS) Shares Gap Down Following Analyst Downgrade

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) gapped down before the market opened on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $49.00 to $35.00. The stock had previously closed at $24.57, but opened at $21.25. JPMorgan Chase & Co. currently has an overweight rating on the stock. Forgent Power Solutions shares last traded at $21.6810, with a volume of 3,584,475 shares trading hands.

FPS has been the subject of a number of other reports. Roth Capital assumed coverage on shares of Forgent Power Solutions in a research note on Friday, November 6th. They set a “buy” rating for the company. KeyCorp restated an “overweight” rating on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. Jefferies Financial Group cut their price target on shares of Forgent Power Solutions from $47.00 to $36.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Finally, Wells Fargo & Company initiated 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. Three investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.21.

Latest Forgent Power Solutions News

Here’s some of the latest news about FPS:

• Positive Sentiment: Fiscal Q1 revenue rose 68.9% year over year to about $478.6 million, while EPS of $0.24 exceeded the $0.18 analyst consensus. The company said results were above the high end of its guidance. BusinessWire earnings announcement
• Positive Sentiment: Forgent raised its full-year outlook, projecting revenue of $2.5 billion to $2.7 billion and EPS of $1.30 to $1.44. Revenue and outlook report
• Negative Sentiment: The outlook may have disappointed investors: the EPS guidance range’s lower end is below the $1.34 consensus estimate, and reports attributed the share decline to full-year guidance falling short of expectations. Revenue guidance starts at the $2.5 billion consensus level. Yahoo Finance guidance report

Institutional Investors Weigh In On Forgent Power Solutions

Large investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in Forgent Power Solutions in the second quarter valued at $7,858,000. Spyglass Capital Management LLC purchased a new position in shares of Forgent Power Solutions during the 2nd quarter valued at about $39,401,000. Scholtz & Company LLC acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at about $1,892,000. Moore Capital Management LP acquired a new position in shares of Forgent Power Solutions in the 2nd quarter valued at about $10,401,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Forgent Power Solutions by 223.2% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 54,300 shares of the company’s stock worth $2,033,000 after buying an additional 37,500 shares during the last quarter.

Forgent Power Solutions Stock Down 12.0%

The stock has a market cap of $6.58 billion and a PE ratio of 55.44. The business has a 50 day moving average price of $31.98 and a 200 day moving average price of $38.10. 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 announced its quarterly earnings results on Thursday, November 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The company had revenue of $478.57 million during the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. Forgent Power Solutions’s revenue was up 68.9% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.300-1.440 EPS. Equities research analysts expect that Forgent Power Solutions, Inc. will post 1.29 EPS for the current fiscal year.

Forgent Power Solutions Company Profile

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.