Forgent Power Solutions (NYSE:FPS) Shares Gap Down – What’s Next?

Forgent Power Solutions, Inc. (NYSE:FPS) shares gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on FPS. Wolfe Research restated an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a report on Thursday, July 9th. Sanford C. Bernstein assumed coverage on Forgent Power Solutions in a report on Friday, October 2nd. They issued an “outperform” rating and a $48.00 target price on the stock. Oppenheimer reissued an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Morgan Stanley set a $45.00 price target on Forgent Power Solutions in a research note on Friday, October 16th. Finally, Clear Str upgraded Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Forgent Power Solutions currently has an average rating of “Moderate Buy” and an average price target of $54.21.

Forgent Power Solutions Stock Performance

The company has a market capitalization of $5.46 billion and a price-to-earnings ratio of 45.37. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. The company’s fifty day simple moving average is $32.65 and its two-hundred day simple moving average is $38.46.

Forgent Power Solutions (NYSE:FPS) last released its earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.01. The company had revenue of $461.67 million during the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. Forgent Power Solutions’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. Equities research analysts predict that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of Forgent Power Solutions

Several institutional investors and hedge funds have recently bought and sold shares of the company. Value Aligned Research Advisors LLC bought a new stake in shares of Forgent Power Solutions during the 2nd quarter valued at about $176,441,000. State Street Corp bought a new position in Forgent Power Solutions in the second quarter worth about $118,073,000. Assenagon Asset Management S.A. lifted its holdings in Forgent Power Solutions by 177.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after acquiring an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC acquired a new position in Forgent Power Solutions during the 2nd quarter valued at approximately $39,401,000. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Forgent Power Solutions by 9.8% during the third quarter. Pictet Asset Management Holding SA now owns 569,948 shares of the company’s stock valued at $21,339,000 after acquiring an additional 50,700 shares during the period.

Forgent Power Solutions Company Profile

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.