Franklin Electric (NASDAQ:FELE) Stock Rating Lowered by Wall Street Zen

by · The Cerbat Gem

Franklin Electric (NASDAQ:FELE – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on FELE. Robert W. Baird set a $130.00 price objective on shares of Franklin Electric in a research note on Thursday, October 29th. Weiss Ratings lowered shares of Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. Finally, DA Davidson reiterated a “neutral” rating and issued a $105.00 target price on shares of Franklin Electric in a report on Wednesday, September 9th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $132.50.

Read Our Latest Stock Analysis on Franklin Electric

Franklin Electric Stock Up 0.7%

Shares of FELE stock opened at $100.96 on Monday. The stock’s 50 day simple moving average is $98.30 and its 200 day simple moving average is $100.19. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 2.33. Franklin Electric has a twelve month low of $89.54 and a twelve month high of $115.82. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.76 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE – Get Free Report) last announced its earnings results on Wednesday, October 28th. The industrial products company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Franklin Electric had a return on equity of 15.45% and a net margin of 8.83%. The firm had revenue of $633.62 million during the quarter, compared to analysts’ expectations of $617.19 million. During the same quarter in the prior year, the business earned $1.30 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. As a group, research analysts predict that Franklin Electric will post 4.74 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC bought a new stake in shares of Franklin Electric in the third quarter valued at approximately $27,000. Trust Co. of Vermont acquired a new stake in shares of Franklin Electric in the second quarter worth $44,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Franklin Electric in the second quarter worth $45,000. Versant Capital Management Inc increased its position in Franklin Electric by 66.7% during the second quarter. Versant Capital Management Inc now owns 555 shares of the industrial products company’s stock worth $59,000 after acquiring an additional 222 shares during the period. Finally, Allworth Financial LP bought a new position in Franklin Electric during the second quarter worth $63,000. 79.98% of the stock is owned by institutional investors.

Franklin Electric News Roundup

Here are the key news stories impacting Franklin Electric this week:

About Franklin Electric

(Get Free Report)

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.

Further Reading