Forgent Power Solutions (NYSE:FPS) Reaches New 1-Year High – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.50 and last traded at $45.3950, with a volume of 1701926 shares changing hands. The stock had previously closed at $43.01.

Analyst Ratings Changes

FPS has been the subject of several analyst reports. Barclays initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued an “overweight” rating and a $44.00 target price for the company. KeyCorp initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued an “overweight” rating and a $41.00 target price for the company. Wolfe Research set a $48.00 target price on Forgent Power Solutions in a report on Monday, March 2nd. Bank of America initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $48.00 target price for the company. Finally, Wall Street Zen upgraded Forgent Power Solutions to a “hold” rating in a report on Monday, February 16th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Forgent Power Solutions currently has an average rating of “Moderate Buy” and a consensus price target of $43.40.

Forgent Power Solutions Price Performance

The business has a 50-day moving average of $34.18.

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.