Franklin Electric (FELE) Receives $46.75 Average PT from Analysts

Shares of Franklin Electric (NASDAQ:FELE) have received an average rating of “Hold” from the six ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $46.75.

Several brokerages have commented on FELE. BidaskClub raised shares of Franklin Electric from a “strong sell” rating to a “sell” rating in a research report on Thursday, March 8th. Seaport Global Securities reaffirmed a “hold” rating and issued a $41.00 price objective on shares of Franklin Electric in a research report on Friday, February 23rd. Robert W. Baird reaffirmed a “hold” rating and issued a $47.00 price objective on shares of Franklin Electric in a research report on Friday, February 23rd. Gabelli reaffirmed a “hold” rating on shares of Franklin Electric in a research report on Wednesday, February 21st. Finally, Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Wednesday, February 21st.

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In other news, CFO John J. Haines sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $42.50, for a total value of $106,250.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Delancey W. Davis sold 8,576 shares of the business’s 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. In the last three months, insiders sold 12,356 shares of company stock worth $521,830. Insiders own 2.52% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meadow Creek Investment Management LLC raised its position in shares of Franklin Electric by 29.5% in the fourth 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 period. Aperio Group LLC raised its position in shares of Franklin Electric by 7.3% in the fourth quarter. Aperio Group LLC now owns 23,038 shares of the industrial products company’s stock valued at $1,057,000 after purchasing an additional 1,559 shares during the period. California Public Employees Retirement System raised its position in shares of Franklin Electric by 1.4% in the fourth quarter. California Public Employees Retirement System now owns 127,664 shares of the industrial products company’s stock valued at $5,860,000 after purchasing an additional 1,807 shares during the period. Advisor Group Inc. raised its position in shares of Franklin Electric by 51.7% in the fourth 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 period. Finally, Swiss National Bank raised its position in shares of Franklin Electric by 2.9% in the fourth quarter. Swiss National Bank now owns 66,500 shares of the industrial products company’s stock valued at $3,052,000 after purchasing an additional 1,900 shares during the period. 77.96% of the stock is currently owned by institutional investors.

Shares of FELE stock opened at $42.95 on Friday. The stock has a market capitalization of $1,954.25, a price-to-earnings ratio of 22.37 and a beta of 1.53. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.40. Franklin Electric has a 52 week low of $36.00 and a 52 week high of $47.20.

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

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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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