Forgent Power Solutions (NYSE:FPS) Sees Large Volume Increase – Here’s What Happened

Forgent Power Solutions, Inc. (NYSE:FPS) shares saw an uptick in trading volume on Thursday . 8,643,656 shares traded hands during mid-day trading, an increase of 70% from the previous session’s volume of 5,090,541 shares.The stock last traded at $48.80 and had previously closed at $49.90.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. TD Cowen upped their price objective on 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 raised Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. The Goldman Sachs Group boosted their target price on Forgent Power Solutions from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Oppenheimer upped their price target on Forgent Power Solutions from $43.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, May 15th. Finally, Jefferies Financial Group raised their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the company a “buy” rating in a report on Friday, May 29th. Ten investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.36.

Forgent Power Solutions Stock Up 0.1%

The firm has a 50 day moving average of $50.47. The firm has a market capitalization of $14.27 billion and a price-to-earnings ratio of 312.57.

Forgent Power Solutions Company Profile

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.