Forgent Power Solutions (NYSE:FPS) Sees Large Volume Increase – Here’s Why

Forgent Power Solutions, Inc. (NYSE:FPS) shares saw unusually-high trading volume on Thursday . Approximately 8,643,656 shares changed hands during mid-day trading, an increase of 70% from the previous session’s volume of 5,090,541 shares.The stock last traded at $48.80 and had previously closed at $49.90.

Analyst Ratings Changes

Several analysts have recently issued reports on FPS shares. Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. TD Cowen lifted their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a report on Monday, June 22nd. KeyCorp boosted their price target on Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. 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 research note on Friday, May 29th. Finally, Morgan Stanley raised their price objective on Forgent Power Solutions from $38.00 to $51.00 and gave the stock an “equal weight” rating in a report on Sunday, May 17th. Ten analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.36.

Forgent Power Solutions Stock Down 4.2%

The stock has a 50 day moving average of $49.97. The firm has a market cap of $14.55 billion and a P/E ratio of 318.28.

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.