Franklin Electric’s (FELE) “Neutral” Rating Reaffirmed at DA Davidson

Franklin Electric (NASDAQ:FELE)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $105.00 price objective on the industrial products company’s stock. DA Davidson’s price objective suggests a potential upside of 6.84% from the company’s previous close.

A number of other brokerages have also weighed in on FELE. Robert W. Baird upped their target price on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Wall Street Zen cut Franklin Electric from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings upgraded Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Price Performance

Shares of NASDAQ FELE traded down $0.85 during mid-day trading on Wednesday, reaching $98.28. The company’s stock had a trading volume of 149,169 shares, compared to its average volume of 308,955. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82. The stock has a fifty day moving average of $104.21 and a two-hundred day moving average of $100.54. The firm has a market capitalization of $4.35 billion, a PE ratio of 28.32, a P/E/G ratio of 1.79 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results 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. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The company had revenue of $622.88 million for the quarter, compared to analysts’ expectations of $605.92 million. During the same period in the previous year, the firm earned $1.31 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, sell-side analysts anticipate that Franklin Electric will post 4.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in 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 valued at $20,659,000 after purchasing an additional 10,325 shares in the last quarter. Gamco Investors INC. ET AL lifted its position in 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 buying an additional 10,858 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in 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 acquiring an additional 79,222 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its position in Franklin Electric by 58.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company’s stock valued at $13,027,000 after acquiring an additional 52,161 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Franklin Electric by 11.0% in the first quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company’s stock worth $75,956,000 after acquiring an additional 81,988 shares during the last quarter. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.