Forgent Power Solutions (NYSE:FPS) Shares Up 7% – Time to Buy?

Forgent Power Solutions, Inc. (NYSE:FPS) was up 7% on Wednesday . The stock traded as high as $64.18 and last traded at $63.5390. Approximately 1,216,826 shares traded hands during trading, a decline of 75% from the average daily volume of 4,856,926 shares. The stock had previously closed at $59.37.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FPS shares. TD Securities restated a “buy” rating and set a $63.00 price target on shares of Forgent Power Solutions in a report on Friday, May 15th. Oppenheimer upped their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 15th. Wolfe Research set a $48.00 price target on Forgent Power Solutions in a report on Monday, March 2nd. JPMorgan Chase & Co. started coverage on Forgent Power Solutions in a report on Monday, March 2nd. They set an “overweight” rating and a $40.00 price target on the stock. Finally, Jefferies Financial Group upped their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.82.

Forgent Power Solutions Stock Up 7.3%

The company has a 50-day moving average price of $44.15.

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.