Forgent Power Solutions (NYSE:FPS) Price Target Cut to $35.00 by Analysts at JPMorgan Chase & Co.

Forgent Power Solutions (NYSE:FPS) had its price objective lowered by JPMorgan Chase & Co. from $49.00 to $35.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. Clear Str raised shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. KeyCorp reissued an “overweight” rating on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Weiss Ratings lowered shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Sanford C. Bernstein began coverage on shares of Forgent Power Solutions in a report on Friday, October 2nd. They issued an “outperform” rating and a $48.00 price target on the stock. Finally, Roth Capital began coverage on Forgent Power Solutions in a research report on Friday, November 6th. They issued a “buy” rating on the stock. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

Forgent Power Solutions Trading Up 14.6%

Shares of NYSE FPS opened at $24.61 on Wednesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. Forgent Power Solutions has a 52 week low of $17.67 and a 52 week high of $66.00. The business has a 50-day simple moving average of $31.98 and a two-hundred day simple moving average of $38.10.

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 return on equity of 24.59% and a net margin of 5.76%. The firm had revenue of $461.67 million for the quarter. The company’s revenue was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. On average, equities analysts predict that Forgent Power Solutions will post 1.29 EPS for the current fiscal year.

Institutional Investors Weigh In On Forgent Power Solutions

Several hedge funds have recently bought and sold shares of the stock. Value Aligned Research Advisors LLC bought a new stake in shares of Forgent Power Solutions during the 2nd quarter worth $176,441,000. William Blair Investment Management LLC increased its stake in 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 acquiring an additional 408,905 shares during the last quarter. Phoenix Financial Ltd. raised its position in Forgent Power Solutions by 50.0% during the third quarter. Phoenix Financial Ltd. now owns 2,493,924 shares of the company’s stock valued at $93,374,000 after purchasing an additional 831,707 shares in the last quarter. State Street Corp purchased a new stake in Forgent Power Solutions during the second quarter valued at about $118,073,000. Finally, Assenagon Asset Management S.A. raised its position in Forgent Power Solutions by 177.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock valued at $71,153,000 after purchasing an additional 1,216,571 shares in the last quarter.

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.