Wall Street Zen Downgrades Franklin Electric (NASDAQ:FELE) to Hold

Franklin Electric (NASDAQ:FELE) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities analysts have also recently weighed in on the stock. Robert W. Baird upped their price objective on shares of Franklin Electric from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, DA Davidson increased their price target on Franklin Electric from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $114.50.

Franklin Electric Stock Performance

FELE opened at $99.76 on Friday. The firm’s 50 day moving average is $104.48 and its 200-day moving average is $100.44. Franklin Electric has a 52-week low of $89.54 and a 52-week high of $115.82. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.41 billion, a P/E ratio of 28.75, a P/E/G ratio of 1.79 and a beta of 1.02.

Franklin Electric (NASDAQ:FELE) last announced its earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.11. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The business had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. During the same period in the prior year, the firm earned $1.31 earnings per share. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Analysts expect that Franklin Electric will post 4.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jonathan Grandon sold 8,547 shares of Franklin Electric stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $103.40, for a total value of $883,759.80. Following the completion of the transaction, the insider owned 7,509 shares in the company, valued at approximately $776,430.60. This trade represents a 53.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Franklin Electric

A number of hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP raised its holdings in shares of Franklin Electric by 18.0% during the second quarter. Corient Private Wealth LP now owns 20,711 shares of the industrial products company’s stock worth $2,220,000 after purchasing an additional 3,162 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Franklin Electric during the 2nd quarter valued at about $268,000. California State Teachers Retirement System raised its stake in Franklin Electric by 10,039.2% during the second quarter. California State Teachers Retirement System now owns 4,677,236 shares of the industrial products company’s stock worth $501,353,000 after acquiring an additional 4,631,106 shares during the period. Highland Investment Advisors LLC bought a new position in Franklin Electric in the second quarter worth about $210,000. Finally, iSAM Funds UK Ltd acquired a new position in Franklin Electric in the second quarter valued at approximately $257,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.