Forgent Power Solutions (NYSE:FPS) Stock Price Down 8.1% – Time to Sell?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price traded down 8.1% during mid-day trading on Friday . The company traded as low as $54.36 and last traded at $53.9650. 2,686,947 shares were traded during trading, a decline of 45% from the average daily volume of 4,861,021 shares. The stock had previously closed at $58.70.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FPS. Weiss Ratings upgraded Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. TD Cowen upped their price target on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research note on Monday. JPMorgan Chase & Co. started coverage on shares of Forgent Power Solutions in a research report on Monday, March 2nd. They set an “overweight” rating and a $40.00 price objective on the stock. Oppenheimer lifted their target price on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Finally, The Goldman Sachs Group upped their target price on shares of Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.36.

Forgent Power Solutions Price Performance

The firm has a 50 day simple moving average of $48.31.

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.