Franklin Electric (FELE) Upgraded at Zacks Investment Research

Franklin Electric (NASDAQ:FELE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, January 16th. The firm currently has a $51.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 22.45% from the stock’s current price.

According to Zacks, “Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Franklin Electric has produced high-quality industrial pumps, filters and accessories. By introducing the new Little Giant PondWorks program, Franklin Electric now brings the same exceptional knowledge, experience, and quality to the recreational water gardening and outdoor living markets. “

Several other analysts have also issued reports on FELE. Robert W. Baird reissued a “hold” rating and set a $45.00 price target on shares of Franklin Electric in a report on Wednesday, October 4th. Boenning Scattergood reissued a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. Seaport Global Securities reissued a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Finally, BidaskClub lowered Franklin Electric from a “hold” rating to a “sell” rating in a report on Friday, December 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $50.00.

Shares of Franklin Electric (NASDAQ:FELE) traded up $0.15 on Tuesday, hitting $41.65. The company had a trading volume of 214,295 shares, compared to its average volume of 115,989. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. Franklin Electric has a one year low of $36.00 and a one year high of $47.20. The company has a market capitalization of $1,940.77, a price-to-earnings ratio of 22.39 and a beta of 1.53.

A number of large investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC lifted its position in shares of Franklin Electric by 10.2% in the fourth quarter. Citadel Advisors LLC now owns 62,772 shares of the industrial products company’s stock valued at $2,881,000 after acquiring an additional 5,789 shares in the last quarter. BlackRock Inc. lifted its position in shares of Franklin Electric by 1.3% in the fourth quarter. BlackRock Inc. now owns 5,311,651 shares of the industrial products company’s stock valued at $243,805,000 after acquiring an additional 68,462 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Franklin Electric by 2.6% in the fourth quarter. Schroder Investment Management Group now owns 823,465 shares of the industrial products company’s stock valued at $37,797,000 after acquiring an additional 20,924 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Franklin Electric by 9.2% in the fourth quarter. Bank of New York Mellon Corp now owns 668,267 shares of the industrial products company’s stock valued at $30,675,000 after acquiring an additional 56,217 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Franklin Electric by 11.8% in the fourth quarter. Rhumbline Advisers now owns 107,239 shares of the industrial products company’s stock valued at $4,922,000 after acquiring an additional 11,303 shares in the last quarter. 76.42% of the stock is owned by institutional investors and hedge funds.

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About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.

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