Franklin Electric (FELE) Lifted to Hold at BidaskClub

BidaskClub upgraded shares of Franklin Electric (NASDAQ:FELE) from a sell rating to a hold rating in a research report report published on Thursday.

Several other research analysts have also recently issued reports on FELE. Zacks Investment Research upgraded shares of Franklin Electric from a hold rating to a buy rating and set a $51.00 target price on the stock in a report on Tuesday, January 16th. Boenning Scattergood reissued a buy rating and set a $54.00 price target on shares of Franklin Electric in a research report on Tuesday, February 20th. Gabelli reissued a hold rating on shares of Franklin Electric in a research report on Wednesday, February 21st. Robert W. Baird reissued a hold rating and set a $47.00 price target on shares of Franklin Electric in a research report on Friday, February 23rd. Finally, Seaport Global Securities reissued a hold rating and set a $41.00 price target on shares of Franklin Electric in a research report on Friday, February 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $46.75.

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Shares of Franklin Electric stock opened at $43.00 on Thursday. The company has a current ratio of 2.40, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Franklin Electric has a 1 year low of $36.00 and a 1 year high of $47.20. The stock has a market cap of $2,000.79, a price-to-earnings ratio of 23.12 and a beta of 1.54.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, February 20th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). Franklin Electric had a return on equity of 12.97% and a net margin of 6.95%. The business had revenue of $288.20 million for the quarter, compared to the consensus estimate of $312.73 million. During the same quarter in the previous year, the company earned $0.38 earnings per share. The firm’s revenue was up 20.3% on a year-over-year basis. equities research analysts forecast that Franklin Electric will post 2.23 earnings per share for the current fiscal year.

In other Franklin Electric news, CFO John J. Haines sold 2,500 shares of the stock in a transaction dated Friday, March 16th. The shares were sold at an average price of $42.50, for a total transaction of $106,250.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Delancey W. Davis sold 8,576 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $42.16, for a total transaction of $361,564.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,356 shares of company stock valued at $521,830. Insiders own 2.54% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new position in shares of Franklin Electric in the 3rd quarter valued at approximately $131,000. Xact Kapitalforvaltning AB purchased a new position in shares of Franklin Electric in the 4th quarter valued at approximately $208,000. Meadow Creek Investment Management LLC raised its position in shares of Franklin Electric by 29.5% in the 4th quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock valued at $243,000 after purchasing an additional 1,204 shares during the last quarter. Advisor Group Inc. raised its position in shares of Franklin Electric by 51.7% in the 4th quarter. Advisor Group Inc. now owns 5,439 shares of the industrial products company’s stock valued at $250,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in shares of Franklin Electric in the 4th quarter valued at approximately $264,000. 77.96% of the stock is owned by hedge funds and other institutional investors.

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About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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