Forgent Power Solutions (NYSE:FPS) Lowered to “Hold” Rating by Zacks Research

Zacks Research cut shares of Forgent Power Solutions (NYSE:FPS) from a strong-buy rating to a hold rating in a research report report published on Tuesday,Zacks reports.

Several other analysts have also recently issued reports on the company. TD Cowen increased their target price on Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Oppenheimer upped their price objective on Forgent Power Solutions from $43.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Wolfe Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Jefferies Financial Group boosted their target price on shares of Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Finally, KeyCorp raised their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the company an “overweight” rating in a report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Forgent Power Solutions currently has a consensus rating of “Moderate Buy” and an average price target of $56.75.

Forgent Power Solutions Price Performance

NYSE FPS opened at $31.07 on Tuesday. The company has a market cap of $9.46 billion and a PE ratio of 207.11. The firm’s 50 day moving average price is $36.93 and its 200-day moving average price is $40.30. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.16 and a current ratio of 1.64. Forgent Power Solutions has a 52-week low of $25.95 and a 52-week high of $66.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FPS. Northwestern Mutual Wealth Management Co. purchased a new position in Forgent Power Solutions in the 2nd quarter worth $30,000. Triumph Capital Management purchased a new stake in Forgent Power Solutions in the second quarter valued at $39,000. IFP Advisors Inc purchased a new stake in shares of Forgent Power Solutions in the second quarter worth about $48,000. Hollencrest Capital Management purchased a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $56,000. Finally, Allworth Financial LP purchased a new stake in Forgent Power Solutions during the second quarter worth $86,000.

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.