Franklin Electric (NASDAQ:FELE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Franklin Electric has produced high-quality industrial pumps, filters and accessories. By introducing the new Little Giant PondWorks program, Franklin Electric now brings the same exceptional knowledge, experience, and quality to the recreational water gardening and outdoor living markets. “
Several other equities analysts have also issued reports on the company. BidaskClub lowered Franklin Electric from a “buy” rating to a “hold” rating in a research report on Thursday, September 27th. ValuEngine upgraded Franklin Electric from a “hold” rating to a “buy” rating in a research report on Thursday, July 26th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.80.
Franklin Electric stock opened at $45.43 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.22 and a quick ratio of 1.00. Franklin Electric has a 1 year low of $38.45 and a 1 year high of $51.45. The stock has a market cap of $2.15 billion, a PE ratio of 23.66, a P/E/G ratio of 2.42 and a beta of 1.60.
Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings data on Friday, October 26th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). Franklin Electric had a net margin of 7.07% and a return on equity of 14.22%. The business had revenue of $341.87 million during the quarter, compared to analyst estimates of $342.18 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. Franklin Electric’s revenue for the quarter was up 9.9% compared to the same quarter last year. Equities analysts forecast that Franklin Electric will post 2.24 EPS for the current year.
In related news, VP Steven William Aikman sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 14th. The stock was sold at an average price of $50.21, for a total value of $75,315.00. Following the completion of the transaction, the vice president now directly owns 16,515 shares in the company, valued at approximately $829,218.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.54% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC acquired a new position in Franklin Electric during the 3rd quarter worth approximately $287,000. Xact Kapitalforvaltning AB boosted its position in Franklin Electric by 61.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the industrial products company’s stock worth $298,000 after acquiring an additional 2,800 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Franklin Electric during the 2nd quarter worth approximately $345,000. Cim Investment Mangement Inc. acquired a new position in Franklin Electric during the 2nd quarter worth approximately $357,000. Finally, Victory Capital Management Inc. boosted its position 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 acquiring an additional 1,108 shares during the last quarter. 77.88% of the stock is owned by hedge funds and other institutional investors.
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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