Forgent Power Solutions (NYSE:FPS) Shares Down 5.9% – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS)’s share price fell 5.9% during mid-day trading on Wednesday . The stock traded as low as $33.66 and last traded at $34.0550. 1,662,128 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 6,110,981 shares. The stock had previously closed at $36.18.

Wall Street Analysts Forecast Growth

FPS has been the topic of a number of recent research reports. Oppenheimer upped their target price 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. Barclays raised their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. TD Cowen increased their target price on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Weiss Ratings cut Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 28th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Forgent Power Solutions presently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Trading Down 5.2%

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.64 and a quick ratio of 1.16. The firm’s 50-day moving average is $45.50. The company has a market capitalization of $10.44 billion and a PE ratio of 228.37.

Institutional Trading of Forgent Power Solutions

An institutional investor recently bought a new position in Forgent Power Solutions stock. Public Employees Retirement System of Ohio bought a new position in Forgent Power Solutions, Inc. (NYSE:FPS) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 36,421 shares of the company’s stock, valued at approximately $2,034,000.

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.