Forgent Power Solutions (NYSE:FPS) Stock Price Up 11.9% – Here’s Why

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price was up 11.9% on Monday. The stock traded as high as $21.87 and last traded at $21.8030. Approximately 1,624,734 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 7,167,136 shares. The stock had previously closed at $19.48.

Analyst Ratings Changes

FPS has been the subject of a number of recent analyst reports. Oppenheimer restated an “outperform” rating and issued a $60.00 price objective on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Jefferies Financial Group dropped 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 research note on Friday, October 23rd. Clear Str raised shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. Wells Fargo & Company assumed coverage on shares of Forgent Power Solutions in a research report on Thursday, September 24th. They set an “equal weight” rating and a $44.00 price objective for the company. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus price target of $54.21.

Forgent Power Solutions Stock Up 12.4%

The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $6.66 billion and a PE ratio of 56.22. The business has a 50-day moving average price of $32.41 and a 200-day moving average price of $38.35.

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

Institutional Investors Weigh In On Forgent Power Solutions

Institutional investors have recently made changes to their positions in the stock. Phoenix Financial Ltd. lifted its position in shares of Forgent Power Solutions by 50.0% during the third quarter. Phoenix Financial Ltd. now owns 2,493,924 shares of the company’s stock worth $93,374,000 after purchasing an additional 831,707 shares in the last quarter. Moors & Cabot Inc. acquired a new position in shares of Forgent Power Solutions in the third quarter valued at approximately $204,000. William Blair Investment Management LLC grew its holdings in shares of Forgent Power Solutions by 16.3% in the third quarter. William Blair Investment Management LLC now owns 2,925,175 shares of the company’s stock valued at $109,519,000 after purchasing an additional 408,905 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Forgent Power Solutions by 62.5% during the 3rd quarter. Russell Investments Group Ltd. now owns 153,041 shares of the company’s stock worth $5,730,000 after buying an additional 58,890 shares during the period. Finally, R Squared Ltd purchased a new stake in Forgent Power Solutions during the 3rd quarter worth approximately $242,000.

Forgent Power Solutions Company Profile