Forgent Power Solutions (NYSE:FPS) Trading Down 7.7% – Should You Sell?

Forgent Power Solutions, Inc. (NYSE:FPS) shares traded down 7.7% during mid-day trading on Friday . The company traded as low as $36.10 and last traded at $35.9540. Approximately 1,895,550 shares were traded during trading, a decline of 68% from the average daily volume of 5,866,247 shares. The stock had previously closed at $38.96.

Analysts Set New Price Targets

Several research analysts recently weighed in on FPS shares. Barclays upped their price objective on shares of Forgent Power Solutions from $44.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. KeyCorp boosted their price target on shares of Forgent Power Solutions from $41.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Forgent Power Solutions from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 27th. TD Cowen raised their price objective on shares of Forgent Power Solutions from $63.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Finally, Robert W. Baird assumed coverage on shares of Forgent Power Solutions in a research report on Wednesday, July 15th. They issued an “outperform” rating and a $55.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $56.75.

Forgent Power Solutions Stock Down 8.2%

The firm has a market capitalization of $10.89 billion and a P/E ratio of 238.42. The firm has a 50 day moving average price of $50.84.

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.