Jim Cramer Notes “Forgent Became an Incredible Performer”

Forgent Power Solutions, Inc. (NYSE:FPS) was among Jim Cramer’s stock calls on Mad Money, as he highlighted worthy space players and reviewed several of this year’s IPOs. Cramer called it a “home run,” as he commented:

Now, second, in early March, I recommended Forgent Power Solutions. That’s a maker of electrical distribution equipment used in data centers, the power grid, and all sorts of energy-intensive industrial facilities. Now, I covered this one in early March, about a month after it came public, and I told you I liked it because it was trading at a sizable discount to its closest competitor, which is Vertiv, the one that Dave Cote’s chairman of.

Since then, Forgent became an incredible performer, rallying from $34 to $59, 75% gain, thanks to a couple of very strong quarters. In fact, Forgent did a secondary offering at the end of May, often the kiss of death for a newly public company, but the darn thing, it just kept rallying. At these levels, though, you got my blessing to ring the register, it’s been a home run, ideally before the lockup on insider selling in this one, which ends in early August.

A stock market data. Photo by AlphaTradeZone on Pexels

Forgent Power Solutions, Inc. (NYSE:FPS) designs and manufactures electrical distribution equipment, such as switchgear, transformers, and power units. In addition, the company provides maintenance, repair, and commissioning services to companies in the technology, utility, and industrial sectors.

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