Forgent Power Solutions (NYSE:FPS) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) saw unusually-strong trading volume on Friday . Approximately 8,640,751 shares changed hands during trading, an increase of 99% from the previous session’s volume of 4,343,710 shares.The stock last traded at $48.8630 and had previously closed at $47.56.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FPS shares. JPMorgan Chase & Co. started coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They set an “overweight” rating and a $40.00 price target for the company. Wolfe Research set a $48.00 price target on Forgent Power Solutions in a research note on Monday, March 2nd. Wall Street Zen raised Forgent Power Solutions to a “hold” rating in a research note on Monday, February 16th. Oppenheimer increased their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Barclays increased their price target on Forgent Power Solutions from $44.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.73.

Forgent Power Solutions Trading Up 8.3%

The firm’s 50 day simple moving average is $37.23.

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.