Forgent Power Solutions (NYSE:FPS) Raised to “Hold” at Wells Fargo & Company

Forgent Power Solutions (NYSE:FPS) was upgraded by Wells Fargo & Company to a “hold” rating in a report released on Thursday, Zacks reports.

Several other analysts have also recently commented on the company. Robert W. Baird began coverage on Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 price target for the company. TD Cowen raised their target price on shares of Forgent Power Solutions from $73.00 to $76.00 and gave the stock a “buy” rating in a research report on Wednesday, September 16th. Weiss Ratings upgraded shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, September 17th. KeyCorp reaffirmed an “overweight” rating on shares of Forgent Power Solutions in a research report on Wednesday, September 16th. Finally, Zacks Research lowered shares of Forgent Power Solutions from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Forgent Power Solutions has an average rating of “Moderate Buy” and a consensus target price of $56.00.

Forgent Power Solutions Stock Up 0.0%

Shares of NYSE FPS opened at $38.96 on Thursday. The firm’s 50 day moving average price is $34.89 and its 200 day moving average price is $40.38. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.07 and a current ratio of 1.54. The firm has a market cap of $11.86 billion and a P/E ratio of 99.89. Forgent Power Solutions has a 1 year low of $25.95 and a 1 year high of $66.00.

Forgent Power Solutions (NYSE:FPS) last posted its quarterly earnings data on Tuesday, September 15th. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The business had revenue of $461.67 million for the quarter. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%.The business’s revenue for the quarter was up 94.3% compared to the same quarter last year. Forgent Power Solutions has set its FY 2027 guidance at 1.260-1.400 EPS. As a group, sell-side analysts anticipate that Forgent Power Solutions will post 1.27 earnings per share for the current year.

Hedge Funds Weigh In On Forgent Power Solutions

Several hedge funds and other institutional investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Forgent Power Solutions during the 2nd quarter worth about $30,000. Triumph Capital Management acquired a new position in Forgent Power Solutions during the second quarter valued at approximately $39,000. IFP Advisors Inc acquired a new position in Forgent Power Solutions during the second quarter valued at approximately $48,000. Hollencrest Capital Management purchased a new stake in Forgent Power Solutions during the second quarter worth approximately $56,000. Finally, Allworth Financial LP acquired a new stake in shares of Forgent Power Solutions in the second quarter worth $86,000.

About Forgent Power Solutions

Forgent Power Solutions, Inc develops and manufactures products used in electric power transmission and distribution infrastructure. Its offerings support the generation, transmission, distribution and management of electrical power for utility and industrial applications.

The company’s product portfolio includes equipment and components used in overhead and underground power networks, including electrical connectors, fittings, line hardware and other engineered solutions designed to support the reliability and efficiency of power-delivery systems.

Forgent Power Solutions serves electric utilities, distributors and industrial customers, primarily through markets connected to North American power infrastructure.