Franklin Electric (NASDAQ:FELE) Stock Gets Downgrade from Wall Street Zen

Franklin Electric (NASDAQ:FELE) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms also recently commented on FELE. DA Davidson reaffirmed a “neutral” rating and issued a $105.00 price target on shares of Franklin Electric in a research note on Wednesday, September 9th. Robert W. Baird lifted their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings raised shares of Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Performance

Shares of Franklin Electric stock opened at $100.16 on Friday. The stock’s fifty day moving average is $99.69 and its two-hundred day moving average is $101.09. The company has a market capitalization of $4.43 billion, a PE ratio of 28.86, a price-to-earnings-growth ratio of 1.80 and a beta of 1.03. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. Franklin Electric has a 52 week low of $89.54 and a 52 week high of $115.82.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share 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 business had revenue of $622.88 million for the quarter, compared to analyst estimates of $605.92 million. During the same quarter last year, the firm posted $1.31 earnings per share. The business’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, analysts expect that Franklin Electric will post 4.65 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Electric

Several large investors have recently modified their holdings of the business. Counterpoint Mutual Funds LLC bought a new position in Franklin Electric in the third quarter worth approximately $263,000. USA Financial Formulas purchased a new stake in Franklin Electric during the third quarter worth $133,000. Assenagon Asset Management S.A. boosted its position in Franklin Electric by 75.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 221,740 shares of the industrial products company’s stock valued at $21,263,000 after acquiring an additional 95,275 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of Franklin Electric by 18.4% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 332,387 shares of the industrial products company’s stock valued at $31,873,000 after acquiring an additional 51,541 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of Franklin Electric by 17.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,085 shares of the industrial products company’s stock valued at $200,000 after acquiring an additional 308 shares during the period. Institutional investors own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) is a global manufacturer and distributor of systems and components used to move, manage and control water and other fluids. Founded in 1944 and headquartered in Bluffton, Indiana, the company originally focused on submersible electric motors and has expanded into a broader range of fluid-handling technologies.

Franklin Electric’s Water Systems business supplies submersible pumps, motors, drives, controls, monitoring equipment and related products for residential, commercial, agricultural, municipal and industrial applications.