Franklin Electric (FELE) Stock Rating Upgraded by BidaskClub

Franklin Electric (NASDAQ:FELE) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

FELE has been the subject of a number of other reports. Boenning Scattergood reaffirmed an “outperform” rating on shares of Franklin Electric in a research report on Tuesday, September 5th. Zacks Investment Research cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price target on shares of Franklin Electric in a research report on Wednesday, October 4th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.33.

Shares of Franklin Electric (FELE) traded up $0.70 during trading on Wednesday, reaching $45.65. 126,400 shares of the company were exchanged, compared to its average volume of 111,133. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18. Franklin Electric has a 12-month low of $36.00 and a 12-month high of $47.20. The stock has a market cap of $2,094.52, a PE ratio of 24.54 and a beta of 1.62.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The firm had revenue of $311.11 million during the quarter, compared to analysts’ expectations of $317.54 million. During the same period in the prior year, the company earned $0.48 EPS. The firm’s revenue was up 29.8% on a year-over-year basis. analysts predict that Franklin Electric will post 1.89 earnings per share for the current year.

In related news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $45.00, for a total transaction of $213,930.00. Following the completion of the sale, the vice president now directly owns 19,129 shares of the company’s stock, valued at approximately $860,805. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.54% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Advisor Group Inc. boosted its position in Franklin Electric by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock valued at $127,000 after buying an additional 116 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Franklin Electric by 2.3% in the 2nd quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock valued at $446,000 after purchasing an additional 238 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Franklin Electric by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares in the last quarter. Amalgamated Bank raised its stake in shares of Franklin Electric by 4.9% in the 2nd quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Franklin Electric by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $142,000 after purchasing an additional 512 shares in the last quarter. 76.94% of the stock is owned by institutional investors.

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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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