Forgent Power Solutions (NYSE:FPS) Sees Strong Trading Volume – Here’s Why

Forgent Power Solutions, Inc. (NYSE:FPS) shares saw strong trading volume on Friday . 6,934,987 shares changed hands during trading, an increase of 111% from the previous session’s volume of 3,282,801 shares.The stock last traded at $29.84 and had previously closed at $30.06.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FPS shares. Barclays started coverage on shares of Forgent Power Solutions in a research note on Monday, March 2nd. They issued an “overweight” rating and a $44.00 price objective on the stock. TD Cowen began coverage on shares of Forgent Power Solutions in a report on Monday, March 2nd. They issued a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. started coverage on Forgent Power Solutions in a research report on Monday, March 2nd. They set an “overweight” rating and a $40.00 price target on the stock. Oppenheimer lifted their price objective on Forgent Power Solutions from $42.00 to $43.00 and gave the company an “outperform” rating in a research note on Tuesday, March 17th. Finally, Morgan Stanley initiated coverage on Forgent Power Solutions in a report on Monday, March 2nd. They issued an “equal weight” rating and a $38.00 price objective for the company. Nine investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.40.

Forgent Power Solutions Stock Up 1.6%

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.