Forgent Power Solutions (NYSE:FPS) Shares Down 2.3% – Here’s Why

Shares of Forgent Power Solutions, Inc. (NYSE:FPS) fell 2.3% during mid-day trading on Tuesday. The stock traded as low as $34.75 and last traded at $36.25. Approximately 7,198,633 shares traded hands during trading, an increase of 7% from the average daily volume of 6,712,651 shares. The stock had previously closed at $37.09.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FPS shares. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 7th. KeyCorp reaffirmed an “overweight” rating on shares of Forgent Power Solutions in a research note on Wednesday, September 16th. Wells Fargo & Company initiated coverage on shares of Forgent Power Solutions in a research note on Thursday, September 24th. They set an “equal weight” rating and a $44.00 target price for the company. Oppenheimer restated an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a report on Wednesday, September 16th. Finally, Weiss Ratings lowered Forgent Power Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 2nd. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.07.

Forgent Power Solutions Trading Down 0.7%

The firm has a market capitalization of $9.88 billion and a PE ratio of 83.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.54 and a quick ratio of 1.07. The company has a fifty day moving average of $35.38 and a 200-day moving average of $40.80.

Forgent Power Solutions (NYSE:FPS) last issued its earnings results on Tuesday, September 15th. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.01. Forgent Power Solutions had a return on equity of 24.59% and a net margin of 5.76%. The firm had revenue of $461.67 million for the quarter. The business’s quarterly revenue 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. On average, sell-side analysts anticipate that Forgent Power Solutions, Inc. will post 1.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Forgent Power Solutions

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Value Aligned Research Advisors LLC bought a new stake in shares of Forgent Power Solutions during the 2nd quarter worth about $176,441,000. State Street Corp acquired a new stake in Forgent Power Solutions in the 2nd quarter worth approximately $118,073,000. Assenagon Asset Management S.A. lifted its holdings in Forgent Power Solutions by 177.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,900,452 shares of the company’s stock worth $71,153,000 after purchasing an additional 1,216,571 shares during the last quarter. Spyglass Capital Management LLC bought a new stake in Forgent Power Solutions during the second quarter worth approximately $39,401,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Forgent Power Solutions during the second quarter worth approximately $23,123,000.

Forgent Power Solutions Company Profile

Forgent Power Solutions, Inc is an electrical infrastructure company that provides equipment and related solutions used in power generation, transmission, distribution and industrial applications. Its offerings support the delivery, control and management of electricity across utility and commercial power systems.

The company’s products and services include transformers, switchgear, substations and other electrical distribution equipment. These solutions are used by electric utilities, industrial customers, commercial facilities and other organizations that require reliable power infrastructure.

Forgent Power Solutions serves customers involved in the North American power and electrical infrastructure markets.