Franklin Electric (NASDAQ:FELE) Upgraded to “Buy” at BidaskClub

Share on StockTwits

Franklin Electric (NASDAQ:FELE) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, September 20th.

Several other research firms also recently issued reports on FELE. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, May 30th. ValuEngine downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Finally, DA Davidson assumed coverage on Franklin Electric in a research note on Monday, June 11th. They set a “neutral” rating and a $50.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Franklin Electric has a consensus rating of “Hold” and a consensus target price of $48.80.

Shares of NASDAQ:FELE traded down $0.76 during trading on Thursday, reaching $41.97. The stock had a trading volume of 122,901 shares, compared to its average volume of 116,726. Franklin Electric has a 1-year low of $38.45 and a 1-year high of $51.45. The firm has a market capitalization of $2.21 billion, a PE ratio of 21.86, a P/E/G ratio of 2.45 and a beta of 1.56. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.06 and a quick ratio of 1.00.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, July 24th. The industrial products company reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). Franklin Electric had a return on equity of 13.65% and a net margin of 6.80%. The company had revenue of $344.00 million for the quarter, compared to analysts’ expectations of $348.65 million. During the same quarter in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, analysts expect that Franklin Electric will post 2.27 earnings per share for the current year.

In related news, VP Steven William Aikman sold 1,500 shares of the business’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $50.21, for a total transaction of $75,315.00. Following the completion of the transaction, the vice president now directly owns 16,515 shares of the company’s stock, valued at approximately $829,218.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 6,500 shares of company stock valued at $323,430 over the last three months. 2.52% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FELE. BlackRock Inc. boosted its position in shares of Franklin Electric by 7.9% during the 2nd quarter. BlackRock Inc. now owns 5,791,470 shares of the industrial products company’s stock worth $261,196,000 after acquiring an additional 424,345 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Franklin Electric by 12.7% during the 1st quarter. Wells Fargo & Company MN now owns 1,772,809 shares of the industrial products company’s stock worth $72,243,000 after acquiring an additional 200,358 shares in the last quarter. Channing Capital Management LLC boosted its position in shares of Franklin Electric by 12.7% during the 2nd quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock worth $62,818,000 after acquiring an additional 156,908 shares in the last quarter. Tributary Capital Management LLC boosted its position in shares of Franklin Electric by 19.4% during the 2nd quarter. Tributary Capital Management LLC now owns 458,304 shares of the industrial products company’s stock worth $20,670,000 after acquiring an additional 74,477 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Franklin Electric by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,705,353 shares of the industrial products company’s stock worth $76,912,000 after acquiring an additional 32,696 shares in the last quarter. 78.46% 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.

Further Reading: How can investors find ex-dividend dates?

Analyst Recommendations for Franklin Electric (NASDAQ:FELE)

Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.