Forgent Power Solutions (NYSE:FPS) Stock Price Down 7.7% – Time to Sell?

Forgent Power Solutions, Inc. (NYSE:FPS)’s stock price fell 7.7% during mid-day trading on Friday . The company traded as low as $36.10 and last traded at $35.9540. 1,895,550 shares changed hands during trading, a decline of 68% from the average session volume of 5,866,247 shares. The stock had previously closed at $38.96.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on Forgent Power Solutions from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wolfe Research reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Forgent Power Solutions in a report on Thursday, July 9th. Morgan Stanley upped their price target on shares of Forgent Power Solutions from $38.00 to $51.00 and gave the company an “equal weight” rating in a research report on Sunday, May 17th. Oppenheimer raised their price objective on shares of Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, May 15th. Finally, Robert W. Baird initiated coverage on shares of Forgent Power Solutions in a research note on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Forgent Power Solutions has an average rating of “Buy” and an average price target of $56.75.

Forgent Power Solutions Stock Down 6.0%

The business has a 50-day moving average of $51.02. The company has a market capitalization of $11.15 billion and a P/E ratio of 243.87.

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.