Franklin Electric (NASDAQ:FELE) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Franklin Electric from a “hold” rating to a “sell” rating in a research note on Monday, November 19th. ValuEngine downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.80.
Shares of NASDAQ:FELE opened at $40.81 on Friday. The stock has a market cap of $2.00 billion, a P/E ratio of 21.26, a PEG ratio of 2.25 and a beta of 1.55. Franklin Electric has a 12 month low of $38.45 and a 12 month high of $51.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.22.
In other news, VP John J. Haines sold 2,000 shares of the stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $45.25, for a total transaction of $90,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Steven William Aikman sold 1,500 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $50.21, for a total transaction of $75,315.00. Following the transaction, the vice president now owns 16,515 shares in the company, valued at $829,218.15. The disclosure for this sale can be found here. 2.54% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Franklin Electric during the third quarter valued at approximately $287,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Franklin Electric during the second quarter valued at approximately $345,000. Cim Investment Mangement Inc. bought a new position in shares of Franklin Electric during the second quarter valued at approximately $357,000. Victory Capital Management Inc. boosted its stake in shares of Franklin Electric by 15.9% during the second quarter. Victory Capital Management Inc. now owns 8,095 shares of the industrial products company’s stock valued at $365,000 after purchasing an additional 1,108 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Franklin Electric during the second quarter valued at approximately $368,000. Hedge funds and other institutional investors own 78.43% of the company’s stock.
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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