Franklin Electric (NASDAQ:FELE – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.
A number of other research firms also recently commented on FELE. Weiss Ratings raised shares of Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. DA Davidson reissued a “neutral” rating and issued a $105.00 price target on shares of Franklin Electric in a research report on Wednesday, September 9th. Finally, Robert W. Baird upped their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Franklin Electric presently has a consensus rating of “Hold” and a consensus price target of $114.50.
Check Out Our Latest Research Report on Franklin Electric
Franklin Electric Stock Performance
Shares of FELE stock opened at $98.61 on Friday. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82. The stock has a market capitalization of $4.36 billion, a PE ratio of 21.62, a P/E/G ratio of 1.76 and a beta of 1.03. The firm has a 50 day moving average of $98.94 and a two-hundred day moving average of $100.24.
Franklin Electric (NASDAQ:FELE – Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.11. The business had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.31 earnings per share. On average, research analysts predict that Franklin Electric will post 4.67 EPS for the current fiscal year.
Hedge Funds Weigh In On Franklin Electric
Large investors have recently made changes to their positions in the stock. Caisse de depot et placement du Quebec purchased a new stake in shares of Franklin Electric in the second quarter valued at about $1,694,000. Gamco Investors INC. ET AL increased its stake in shares of Franklin Electric by 4.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company’s stock worth $23,653,000 after purchasing an additional 10,858 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Franklin Electric by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock worth $20,659,000 after purchasing an additional 10,325 shares in the last quarter. Engineers Gate Manager LP increased its stake in shares of Franklin Electric by 687.1% during the 2nd quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company’s stock worth $3,501,000 after purchasing an additional 28,516 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Franklin Electric by 116.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company’s stock worth $13,562,000 after purchasing an additional 79,222 shares in the last quarter. Hedge funds and other institutional investors own 79.98% of the company’s stock.
About Franklin Electric
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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