Forgent Power Solutions (NYSE:FPS) Shares Gap Up – Should You Buy?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price gapped up before the market opened on Wednesday. The stock had previously closed at $30.23, but opened at $32.57. Forgent Power Solutions shares last traded at $31.2640, with a volume of 786,701 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FPS shares. Wolfe Research restated an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a research note on Thursday, July 9th. Zacks Research upgraded Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings downgraded shares of Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Wells Fargo & Company started 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 target for the company. Finally, Robert W. Baird began coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They set an “outperform” rating and a $55.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus price target of $55.64.

Forgent Power Solutions Stock Performance

The stock has a market capitalization of $9.47 billion and a PE ratio of 80.18. 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’s fifty day moving average price is $34.87 and its two-hundred day moving average price is $40.87.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Value Aligned Research Advisors LLC purchased a new stake in shares of Forgent Power Solutions in the second quarter valued at about $176,441,000. State Street Corp purchased a new position in Forgent Power Solutions in the second quarter worth approximately $118,073,000. Assenagon Asset Management S.A. increased its stake 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 worth $71,153,000 after acquiring an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC acquired a new stake in Forgent Power Solutions during the second quarter worth $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Forgent Power Solutions in the second quarter valued at $23,123,000.

About Forgent Power Solutions

Forgent Power Solutions, Inc is a North American provider of equipment and services used in electrical power distribution. The company supports utilities, commercial and industrial customers, renewable-energy projects, data centers, and other infrastructure operators that require reliable systems for managing and distributing electricity.

Its offerings include power transformers, switchgear, substations, and related electrical distribution equipment. Forgent also provides engineering, field services, maintenance, repair, and other support intended to help customers install, operate, and extend the useful life of critical power infrastructure.

The company serves customers across the United States and Canada through its manufacturing, distribution, and service operations.