Franklin Electric (NASDAQ:FELE – Get Free Report) was upgraded by analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued on Monday, Briefing.com reports. The firm currently has a $135.00 price objective on the industrial products company’s stock. DA Davidson‘s price objective would suggest a potential upside of 41.54% from the company’s current price.
A number of other research firms also recently issued reports on FELE. Robert W. Baird set a $130.00 target price on Franklin Electric in a research report on Thursday. Wall Street Zen cut Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Weiss Ratings downgraded Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Franklin Electric currently has an average rating of “Hold” and an average target price of $132.50.
Read Our Latest Report on FELE
Franklin Electric Price Performance
Shares of FELE stock opened at $95.38 on Monday. The stock’s fifty day moving average is $98.42 and its 200-day moving average is $100.18. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 2.33. The stock has a market capitalization of $4.21 billion, a PE ratio of 21.43, a PEG ratio of 1.68 and a beta of 1.02. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82.
Franklin Electric (NASDAQ:FELE – Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The firm had revenue of $633.62 million during the quarter, compared to analysts’ expectations of $617.19 million. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 EPS. Equities research analysts expect that Franklin Electric will post 4.74 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in Franklin Electric during the 2nd quarter worth approximately $698,173,000. Dimensional Fund Advisors LP boosted its stake in shares of Franklin Electric by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock valued at $93,059,000 after purchasing an additional 36,268 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Franklin Electric during the second quarter worth $82,970,000. Amundi increased its position in shares of Franklin Electric by 25.2% during the first quarter. Amundi now owns 881,425 shares of the industrial products company’s stock worth $81,225,000 after buying an additional 177,433 shares during the period. Finally, Segall Bryant & Hamill LLC raised its stake in Franklin Electric by 81.4% during the first quarter. Segall Bryant & Hamill LLC now owns 481,906 shares of the industrial products company’s stock worth $44,417,000 after buying an additional 216,250 shares during the last quarter. 79.98% of the stock is owned by institutional investors.
Franklin Electric Company Profile
Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.
Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.
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