Forgent Power Solutions (NYSE:FPS) Releases Earnings Results

Forgent Power Solutions (NYSE:FPS) issued its quarterly earnings data on Tuesday. The company reported $0.25 earnings per share for the quarter, FiscalAI reports. Forgent Power Solutions had a net margin of 2.17% and a return on equity of 12.14%. The business had revenue of $461.67 million during the quarter.

Forgent Power Solutions Price Performance

FPS stock opened at $28.43 on Tuesday. The stock has a market capitalization of $8.65 billion and a price-to-earnings ratio of 189.50. The company has a quick ratio of 1.16, a current ratio of 1.64 and a debt-to-equity ratio of 0.99. Forgent Power Solutions has a 52-week low of $25.95 and a 52-week high of $66.00. The stock’s fifty day simple moving average is $35.89 and its 200-day simple moving average is $40.21.

Wall Street Analysts Forecast Growth

FPS has been the topic of a number of analyst reports. 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 report on Monday, June 22nd. Jefferies Financial Group upped their price objective on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Wolfe Research reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research note on Thursday, July 9th. 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, Robert W. Baird started coverage on shares of Forgent Power Solutions in a report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.75.

Hedge Funds Weigh In On Forgent Power Solutions

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Forgent Power Solutions during the 2nd quarter valued at about $30,000. Triumph Capital Management acquired a new stake in shares of Forgent Power Solutions in the second quarter worth approximately $39,000. IFP Advisors Inc acquired a new stake in shares of Forgent Power Solutions in the second quarter worth approximately $48,000. Hollencrest Capital Management purchased a new stake in Forgent Power Solutions in the second quarter valued at approximately $56,000. Finally, Allworth Financial LP acquired a new position in Forgent Power Solutions during the second quarter worth approximately $86,000.

Forgent Power Solutions Company Profile

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.