BidaskClub Lowers Franklin Electric (FELE) to Sell

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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.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Friday, October 26th. The industrial products company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.02). The company had revenue of $341.87 million during the quarter, compared to the consensus estimate of $342.18 million. Franklin Electric had a return on equity of 14.22% and a net margin of 7.07%. Franklin Electric’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. On average, equities analysts forecast that Franklin Electric will post 2.24 EPS for the current year.

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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Analyst Recommendations for Franklin Electric (NASDAQ:FELE)

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