Forgent Power Solutions (NYSE:FPS) Shares Gap Down – What’s Next?

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) gapped down before the market opened on Tuesday . The stock had previously closed at $54.99, but opened at $52.56. Forgent Power Solutions shares last traded at $52.9230, with a volume of 1,068,790 shares.

Wall Street Analysts Forecast Growth

FPS has been the subject of a number of research analyst reports. Oppenheimer upped their target price on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 15th. Bank of America began coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued a “buy” rating and a $48.00 price objective for the company. KeyCorp raised their target price on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a research report on Tuesday, March 10th. Finally, Wolfe Research set a $48.00 price target on shares of Forgent Power Solutions in a research note on Monday, March 2nd. Ten research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Forgent Power Solutions Price Performance

The firm has a fifty day simple moving average of $49.21. The company has a market capitalization of $17.26 billion and a PE ratio of 377.50.

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.