Franklin Electric (NASDAQ:FELE – Get Free Report) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday, Zacks reports.
A number of other research firms also recently commented on FELE. Weiss Ratings downgraded Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, October 29th. Robert W. Baird set a $130.00 price target on Franklin Electric in a report on Thursday, October 29th. Wall Street Zen lowered Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday. Finally, DA Davidson raised Franklin Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $105.00 to $135.00 in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.50.
Read Our Latest Stock Analysis on Franklin Electric
Franklin Electric Stock Performance
Shares of FELE stock opened at $100.04 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 2.33. Franklin Electric has a one year low of $89.54 and a one year high of $115.82. The company’s 50-day simple moving average is $98.26 and its 200-day simple moving average is $100.19. The stock has a market capitalization of $4.42 billion, a price-to-earnings ratio of 21.25, a PEG ratio of 1.76 and a beta of 1.02.
Franklin Electric (NASDAQ:FELE – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $633.62 million during the quarter, compared to the consensus estimate of $617.19 million. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $1.30 earnings per share. Equities analysts anticipate that Franklin Electric will post 4.77 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. bought a new position in Franklin Electric during the 2nd quarter valued at $698,173,000. Dimensional Fund Advisors LP increased its position in shares of Franklin Electric by 3.7% during 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 period. Bank of America Corp DE bought a new stake in shares of Franklin Electric in the 2nd quarter worth $82,970,000. Amundi raised its stake in shares of Franklin Electric by 25.2% in the 1st 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 in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Franklin Electric by 81.4% in the first quarter. Segall Bryant & Hamill LLC now owns 481,906 shares of the industrial products company’s stock valued at $44,417,000 after buying an additional 216,250 shares during the period. 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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