JPMorgan Chase & Co. Has Lowered Expectations for Forgent Power Solutions (NYSE:FPS) Stock Price

Forgent Power Solutions (NYSE:FPS) had its price objective cut by equities researchers at JPMorgan Chase & Co. from $56.00 to $49.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 22.74% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein initiated coverage on shares of Forgent Power Solutions in a research report on Friday, October 2nd. They set an “outperform” rating and a $48.00 price objective on the stock. Wells Fargo & Company began coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price target on the stock. KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Finally, Oppenheimer restated an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $56.07.

Forgent Power Solutions Stock Performance

Shares of FPS stock traded up $0.12 during trading hours on Friday, hitting $39.92. 4,253,842 shares of the company were exchanged, compared to its average volume of 6,700,994. 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 stock has a market capitalization of $12.15 billion and a price-to-earnings ratio of 102.68. The firm has a fifty day simple moving average of $35.42 and a 200 day simple moving average of $40.71. Forgent Power Solutions has a 52-week low of $25.95 and a 52-week high of $66.00.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The company had revenue of $461.67 million for the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. The business’s quarterly 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. Research analysts predict that Forgent Power Solutions will post 1.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

A number of institutional investors and hedge funds have recently modified their holdings of the company. GAMMA Investing LLC increased its stake 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 purchasing an additional 845 shares in the last quarter. Glynn Capital Management LLC lifted its holdings in Forgent Power Solutions by 3.1% in the 3rd quarter. Glynn Capital Management LLC now owns 345,268 shares of the company’s stock worth $12,927,000 after purchasing an additional 10,515 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Forgent Power Solutions during the 2nd quarter valued at approximately $7,408,000. State Street Corp bought a new stake in shares of Forgent Power Solutions during the second quarter valued at approximately $118,073,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Forgent Power Solutions in the second quarter worth about $846,000.

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.