Forgent Power Solutions, Inc.’s (NYSE:FPS) Lock-Up Period Set To End on August 4th

Forgent Power Solutions’ (NYSE:FPS) lock-up period will end on Tuesday, August 4th. Forgent Power Solutions had issued 56,000,000 shares in its IPO on February 5th. The total size of the offering was $1,512,000,000 based on an initial share price of $27.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analyst Ratings Changes

A number of brokerages recently commented on FPS. TD Cowen lifted their price objective on Forgent Power Solutions from $63.00 to $73.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Jefferies Financial Group lifted their price target on Forgent Power Solutions from $44.00 to $56.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Zacks Research raised shares of Forgent Power Solutions from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 14th. Wolfe Research restated an “outperform” rating and set a $60.00 price objective on shares of Forgent Power Solutions in a research report on Thursday, July 9th. Finally, Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, May 27th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Forgent Power Solutions presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Forgent Power Solutions Price Performance

NYSE:FPS opened at $36.12 on Tuesday. Forgent Power Solutions has a 52 week low of $25.95 and a 52 week high of $66.00. The company has a fifty day simple moving average of $50.70. The stock has a market capitalization of $11.00 billion and a P/E ratio of 240.83.

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.