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

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) reached a new 52-week high during trading on Tuesday . The stock traded as high as $37.53 and last traded at $36.9760, with a volume of 4507891 shares traded. The stock had previously closed at $37.15.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FPS shares. Zacks Research upgraded shares of Forgent Power Solutions to a “hold” rating in a research note on Tuesday, March 10th. Wolfe Research set a $48.00 price objective on Forgent Power Solutions in a report on Monday, March 2nd. JPMorgan Chase & Co. initiated coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They set an “overweight” rating and a $40.00 target price for the company. Morgan Stanley initiated coverage on Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “equal weight” rating and a $38.00 price target on the stock. Finally, TD Cowen began coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set a “buy” rating and a $45.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Forgent Power Solutions has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Forgent Power Solutions Stock Performance

The company’s 50 day moving average price is $33.07.

Forgent Power Solutions Company Profile

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.