Forgent Power Solutions (NYSE:FPS) Hits New 52-Week High – Here’s Why

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $66.25 and last traded at $64.0630, with a volume of 34103 shares trading hands. The stock had previously closed at $63.41.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FPS shares. Barclays upped their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Zacks Research raised shares of Forgent Power Solutions to a “hold” rating in a research report on Tuesday, March 10th. The Goldman Sachs Group raised their price target on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Finally, Bank of America began coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They issued a “buy” rating and a $48.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Forgent Power Solutions currently has an average rating of “Moderate Buy” and an average price target of $52.82.

Forgent Power Solutions Stock Performance

The stock has a 50-day moving average of $46.10.

About Forgent Power Solutions

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.