Franklin Electric (NASDAQ:FELE) Rating Lowered to Sell at BidaskClub

Franklin Electric (NASDAQ:FELE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a report released on Friday, December 22nd.

FELE has been the topic of several other research reports. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, September 27th. Boenning Scattergood reaffirmed a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. Robert W. Baird boosted their target price on shares of Franklin Electric from $45.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, October 25th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a research note on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Franklin Electric has a consensus rating of “Hold” and a consensus price target of $49.33.

Franklin Electric (NASDAQ FELE) traded up $0.25 during trading hours on Friday, hitting $45.55. 95,974 shares of the stock traded hands, compared to its average volume of 116,725. Franklin Electric has a twelve month low of $36.00 and a twelve month high of $47.20. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35. The company has a market cap of $2,110.83, a price-to-earnings ratio of 24.49 and a beta of 1.62.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $311.11 million for the quarter, compared to the consensus estimate of $317.54 million. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 EPS. sell-side analysts expect that Franklin Electric will post 1.89 EPS for the current fiscal year.

In other news, VP Donald P. Kenney sold 4,754 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the sale, the vice president now directly owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.54% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its holdings in shares of Franklin Electric by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Franklin Electric in the third quarter valued at about $131,000. Advisor Group Inc. boosted its stake in Franklin Electric by 3.9% during the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after buying an additional 116 shares during the period. Victory Capital Management Inc. boosted its stake in Franklin Electric by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock worth $142,000 after buying an additional 512 shares during the period. Finally, Parametrica Management Ltd purchased a new position in Franklin Electric during the third quarter worth about $279,000. Institutional investors and hedge funds own 76.94% of the company’s stock.

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About Franklin Electric

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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