Franklin Electric Co. (FELE) Given Consensus Rating of “Hold” by Brokerages

Shares of Franklin Electric Co. (NASDAQ:FELE) have received an average rating of “Hold” from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $48.00.

A number of brokerages have recently commented on FELE. BidaskClub downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Tuesday, August 28th. Zacks Investment Research raised shares of Franklin Electric from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th.

In other news, VP Steven William Aikman sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $49.89, for a total value of $174,615.00. Following the transaction, the vice president now owns 18,515 shares of the company’s stock, valued at approximately $923,713.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Donald P. Kenney sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $49.00, for a total transaction of $73,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 6,500 shares of company stock worth $323,430. Insiders own 2.52% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its stake in Franklin Electric by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock worth $365,000 after buying an additional 1,108 shares during the period. Legal & General Group Plc increased its stake in Franklin Electric by 1.5% during the 1st quarter. Legal & General Group Plc now owns 82,480 shares of the industrial products company’s stock worth $3,335,000 after buying an additional 1,238 shares during the period. Citigroup Inc. increased its stake in Franklin Electric by 11.2% during the 1st quarter. Citigroup Inc. now owns 12,370 shares of the industrial products company’s stock worth $504,000 after buying an additional 1,250 shares during the period. Profund Advisors LLC increased its stake in Franklin Electric by 20.6% during the 1st quarter. Profund Advisors LLC now owns 7,376 shares of the industrial products company’s stock worth $301,000 after buying an additional 1,260 shares during the period. Finally, Great West Life Assurance Co. Can increased its stake in Franklin Electric by 3.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 52,892 shares of the industrial products company’s stock worth $2,156,000 after buying an additional 1,780 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FELE traded down $0.76 during mid-day trading on Friday, reaching $41.97. The company had a trading volume of 122,901 shares, compared to its average volume of 116,726. The firm has a market cap of $2.21 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. Franklin Electric has a fifty-two week low of $38.45 and a fifty-two week high of $51.45. The company has a quick ratio of 1.00, a current ratio of 2.06 and a debt-to-equity ratio of 0.13.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). The company had revenue of $344.00 million during the quarter, compared to analyst estimates of $348.65 million. Franklin Electric had a net margin of 6.80% and a return on equity of 13.65%. During the same quarter last year, the business earned $0.58 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Franklin Electric will post 2.27 earnings per share for the current year.

Franklin Electric Company Profile

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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Analyst Recommendations for Franklin Electric (NASDAQ:FELE)

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