Brokerages Set Franklin Electric Co. (FELE) Target Price at $48.00

Share on StockTwits

Shares of Franklin Electric Co. (NASDAQ:FELE) have received a consensus recommendation of “Hold” from the eight ratings firms that are presently covering the company, MarketBeat.com reports. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $48.00.

FELE has been the subject of a number of research analyst reports. ValuEngine raised shares of Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. BidaskClub cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Finally, Zacks Investment Research cut shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th.

Franklin Electric stock traded down $0.76 during mid-day trading on Friday, reaching $41.97. The company 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 company has a current ratio of 2.06, a quick ratio of 1.00 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.21 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56.

Franklin Electric (NASDAQ:FELE) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $0.65 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.05). Franklin Electric had a net margin of 6.80% and a return on equity of 13.65%. The company had revenue of $344.00 million during the quarter, compared to analysts’ expectations of $348.65 million. During the same period last year, the business posted $0.58 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that Franklin Electric will post 2.27 EPS for the current fiscal year.

In other news, VP Donald P. Kenney sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $49.00, for a total value of $73,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Steven William Aikman sold 3,500 shares of the stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $49.89, for a total transaction of $174,615.00. Following the completion of the sale, the vice president now owns 18,515 shares in the company, valued at $923,713.35. The disclosure for this sale can be found here. Insiders sold 6,500 shares of company stock worth $323,430 over the last quarter. Company insiders own 2.52% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FELE. BlackRock Inc. grew its position in shares of Franklin Electric by 7.9% in the second quarter. BlackRock Inc. now owns 5,791,470 shares of the industrial products company’s stock valued at $261,196,000 after purchasing an additional 424,345 shares during the last quarter. Channing Capital Management LLC grew its position in shares of Franklin Electric by 12.7% in the second quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock valued at $62,818,000 after purchasing an additional 156,908 shares during the last quarter. Tributary Capital Management LLC grew its position in shares of Franklin Electric by 19.4% in the second quarter. Tributary Capital Management LLC now owns 458,304 shares of the industrial products company’s stock valued at $20,670,000 after purchasing an additional 74,477 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Franklin Electric by 4.1% in the second quarter. Wells Fargo & Company MN now owns 1,844,728 shares of the industrial products company’s stock valued at $83,197,000 after purchasing an additional 71,919 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Franklin Electric by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,705,353 shares of the industrial products company’s stock valued at $76,912,000 after purchasing an additional 32,696 shares during the last quarter. Institutional investors and hedge funds own 78.46% 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.

Featured Article: Relative Strength Index

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.

Leave a Reply