Forgent Power Solutions (NYSE:FPS) Coverage Initiated by Analysts at Roth Capital

Roth Capital assumed coverage on shares of Forgent Power Solutions (NYSE:FPS) in a research report sent to investors on Friday morning, Marketbeat reports. The firm issued a buy rating on the stock.

Several other research analysts have also recently weighed in on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Zacks Research upgraded shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 7th. Weiss Ratings lowered Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Clear Str upgraded shares of Forgent Power Solutions to a “strong-buy” rating in a report on Monday, October 26th. Finally, Wolfe Research restated an “outperform” rating and set a $60.00 price target on shares of Forgent Power Solutions in a report on Thursday, July 9th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given 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 has a consensus rating of “Moderate Buy” and a consensus price target of $54.21.

Forgent Power Solutions Stock Performance

FPS traded up $1.18 during trading hours on Friday, hitting $19.39. The stock had a trading volume of 14,803,537 shares, compared to its average volume of 9,805,838. The company has a quick ratio of 1.07, a current ratio of 1.54 and a debt-to-equity ratio of 0.86. The stock has a market cap of $5.90 billion and a PE ratio of 49.71. Forgent Power Solutions has a 1 year low of $17.67 and a 1 year high of $66.00. The company’s fifty day simple moving average is $32.41 and its 200 day simple moving average is $38.35.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings results on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.01. The company had revenue of $461.67 million for the quarter. Forgent Power Solutions had a net margin of 5.76% and a return on equity of 24.59%. Forgent Power Solutions’s quarterly revenue was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. Equities analysts anticipate that Forgent Power Solutions will post 1.28 earnings per share for the current year.

Institutional Trading of Forgent Power Solutions

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Value Aligned Research Advisors LLC bought a new position in Forgent Power Solutions during the 2nd quarter valued at approximately $176,441,000. William Blair Investment Management LLC grew its stake in shares of Forgent Power Solutions by 16.3% in the third quarter. William Blair Investment Management LLC now owns 2,925,175 shares of the company’s stock worth $109,519,000 after acquiring an additional 408,905 shares during the last quarter. State Street Corp purchased a new stake in shares of Forgent Power Solutions in the second quarter worth $118,073,000. Assenagon Asset Management S.A. increased its holdings in shares of 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 valued at $71,153,000 after acquiring an additional 1,216,571 shares in the last quarter. Finally, Spyglass Capital Management LLC purchased a new position in Forgent Power Solutions in the second quarter worth about $39,401,000.

Forgent Power Solutions Company Profile

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.