Traders Purchase High Volume of Call Options on Forgent Power Solutions (NYSE:FPS)

Forgent Power Solutions, Inc. (NYSE:FPS) saw unusually large options trading on Wednesday. Stock traders bought 14,142 call options on the company. This represents an increase of 32% compared to the average volume of 10,722 call options.

Analysts Set New Price Targets

FPS has been the subject of several research reports. Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Robert W. Baird started coverage on shares of Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective on the stock. Wells Fargo & Company started coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They issued an “equal weight” rating and a $44.00 target price on the stock. Weiss Ratings downgraded shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Finally, 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 target price for the company. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.21.

Forgent Power Solutions Stock Performance

Shares of FPS stock traded up $3.12 on Wednesday, hitting $24.60. 7,336,390 shares of the stock were exchanged, compared to its average volume of 7,217,175. 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 firm has a market capitalization of $7.49 billion and a PE ratio of 62.92. Forgent Power Solutions has a one year low of $17.67 and a one year high of $66.00. The firm’s 50 day moving average is $32.07 and its two-hundred day moving average is $38.17.

Forgent Power Solutions (NYSE:FPS) last announced its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. The business had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. 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. Sell-side analysts expect that Forgent Power Solutions will post 1.28 earnings per share for the current fiscal year.

Institutional Trading of Forgent Power Solutions

Several hedge funds and other institutional investors have recently modified their holdings of FPS. Tidal Investments LLC purchased a new position in Forgent Power Solutions in the 2nd quarter valued at approximately $7,858,000. Spyglass Capital Management LLC bought a new stake in Forgent Power Solutions during the 2nd quarter valued at $39,401,000. Scholtz & Company LLC purchased a new stake in shares of Forgent Power Solutions during the second quarter worth $1,892,000. Moore Capital Management LP purchased a new stake in shares of Forgent Power Solutions during the second quarter worth $10,401,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Forgent Power Solutions by 223.2% during the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 54,300 shares of the company’s stock worth $2,033,000 after acquiring an additional 37,500 shares in the last quarter.

About Forgent Power Solutions

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.