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

Forgent Power Solutions, Inc. (NYSE:FPS) gapped down before the market opened on Wednesday . The stock had previously closed at $49.84, but opened at $46.08. Forgent Power Solutions shares last traded at $46.9790, with a volume of 828,597 shares traded.

Analysts Set New Price Targets

Several research firms recently commented on FPS. Barclays boosted their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. TD Securities reiterated a “buy” rating and set a $63.00 price objective on shares of Forgent Power Solutions in a research note on Friday, May 15th. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a research note on Tuesday, March 10th. Jefferies Financial Group began coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set a “buy” rating and a $44.00 price objective for the company. Finally, Wall Street Zen upgraded shares of Forgent Power Solutions to a “hold” rating in a research note on Monday, February 16th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.73.

Forgent Power Solutions Stock Performance

The stock’s 50 day moving average is $36.73.

Forgent Power Solutions Company Profile

We are a leading designer and manufacturer of electrical distribution equipment used in data centers, the power grid and energy-intensive industrial facilities. Demand for our products is growing rapidly as (i) companies accelerate investment in data centers to meet the computational requirements for cloud computing and AI, (ii) independent power producers build new generation capacity to satisfy rising electricity demand, (iii) utilities upgrade and expand T&D infrastructure to address rapid load growth and (iv) manufacturers reshore their factories to secure their supply chains and mitigate the impact of tariffs.