Franklin Electric Co., Inc. (NASDAQ:FELE)‘s stock had its “neutral” rating reiterated by stock analysts at Seaport Global Securities in a research note issued to investors on Wednesday, October 25th. Seaport Global Securities also issued estimates for Franklin Electric Co.’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.92 EPS, Q1 2018 earnings at $0.43 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.55 EPS, Q4 2018 earnings at $0.51 EPS and FY2018 earnings at $2.08 EPS.
Other analysts have also recently issued research reports about the stock. Boenning Scattergood restated a “buy” rating on shares of Franklin Electric Co. in a research report on Tuesday, October 24th. Robert W. Baird lifted their target price on shares of Franklin Electric Co. from $45.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 25th. BidaskClub cut shares of Franklin Electric Co. from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Franklin Electric Co. from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.33.
Shares of Franklin Electric Co. (FELE) traded up $0.05 during mid-day trading on Wednesday, hitting $44.00. 162,900 shares of the stock traded hands, compared to its average volume of 155,872. The stock has a market cap of $2,047.92, a price-to-earnings ratio of 24.15 and a beta of 1.62. Franklin Electric Co. has a 12 month low of $36.00 and a 12 month high of $46.95. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35.
Franklin Electric Co. (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $311.11 million during the quarter, compared to the consensus estimate of $317.54 million. Franklin Electric Co. had a net margin of 8.13% and a return on equity of 13.09%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned $0.48 EPS. equities research analysts anticipate that Franklin Electric Co. will post 1.89 earnings per share for the current fiscal year.
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In related news, VP Donald P. Kenney sold 4,754 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $45.00, for a total transaction of $213,930.00. Following the sale, the vice president now owns 19,129 shares of the company’s stock, valued at $860,805. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.54% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FELE. BlackRock Inc. lifted its stake in shares of Franklin Electric Co. by 26,341.4% in the first quarter. BlackRock Inc. now owns 5,205,518 shares of the industrial products company’s stock worth $224,097,000 after buying an additional 5,185,831 shares in the last quarter. Channing Capital Management LLC bought a new position in shares of Franklin Electric Co. in the third quarter worth approximately $30,888,000. First Merchants Corp bought a new position in shares of Franklin Electric Co. in the third quarter worth approximately $21,739,000. Royce & Associates LP lifted its stake in shares of Franklin Electric Co. by 29.6% in the second quarter. Royce & Associates LP now owns 1,471,248 shares of the industrial products company’s stock worth $60,910,000 after buying an additional 335,900 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Franklin Electric Co. by 6.8% in the first quarter. Vanguard Group Inc. now owns 3,855,608 shares of the industrial products company’s stock worth $165,984,000 after buying an additional 247,087 shares in the last quarter. Hedge funds and other institutional investors own 79.37% of the company’s stock.
About Franklin Electric Co.
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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