Forgent Power Solutions (NYSE:FPS) Shares Down 6.2% – Should You Sell?

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) fell 6.2% during trading on Wednesday . The stock traded as low as $55.55 and last traded at $53.58. 822,040 shares traded hands during trading, a decline of 83% from the average session volume of 4,858,117 shares. The stock had previously closed at $57.15.

Wall Street Analyst Weigh In

FPS has been the topic of several recent research reports. The Goldman Sachs Group raised their price objective on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Barclays raised their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Morgan Stanley raised their price objective on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a research report on Sunday, May 17th. Wolfe Research set a $48.00 price objective on shares of Forgent Power Solutions in a research report on Monday, March 2nd. Finally, Oppenheimer raised their price objective on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Forgent Power Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $52.82.

Forgent Power Solutions Stock Performance

The business’s 50-day moving average is $42.30.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.