Franklin Electric Co. (NASDAQ:FELE) Given Consensus Recommendation of “Hold” by Brokerages
Franklin Electric Co. (NASDAQ:FELE) has earned an average rating of “Hold” from the eight research firms that are presently covering the company. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $33.75.
Several equities research analysts have issued reports on FELE shares. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Boenning Scattergood upgraded Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Monday, July 11th.
In related news, VP Delancey W. Davis sold 1,422 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $37.32, for a total transaction of $53,069.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director David M. Wathen sold 4,498 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $38.28, for a total value of $172,183.44. The disclosure for this sale can be found here. 2.67% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FELE. PineBridge Investments L.P. raised its position in Franklin Electric by 3.9% in the second quarter. PineBridge Investments L.P. now owns 4,860 shares of the company’s stock worth $160,000 after buying an additional 184 shares in the last quarter. NEXT Financial Group Inc raised its position in Franklin Electric by 42.7% in the second quarter. NEXT Financial Group Inc now owns 5,177 shares of the company’s stock worth $171,000 after buying an additional 1,550 shares in the last quarter. Teacher Retirement System of Texas raised its position in Franklin Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,503 shares of the company’s stock worth $182,000 after buying an additional 671 shares in the last quarter. Amalgamated Bank bought a new position in Franklin Electric during the second quarter worth about $202,000. Finally, PNC Financial Services Group Inc. raised its position in Franklin Electric by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,394 shares of the company’s stock worth $210,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 78.91% of the company’s stock.
Franklin Electric (NASDAQ:FELE) traded down 0.20% on Monday, reaching $39.85. The company’s stock had a trading volume of 28,594 shares. The firm has a market capitalization of $1.84 billion, a P/E ratio of 25.88 and a beta of 1.61. Franklin Electric has a 52-week low of $23.75 and a 52-week high of $41.13. The firm has a 50-day moving average price of $38.87 and a 200 day moving average price of $35.29.
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.02. Franklin Electric had a return on equity of 13.27% and a net margin of 8.07%. The company had revenue of $252.10 million for the quarter, compared to the consensus estimate of $255.60 million. During the same period in the previous year, the business earned $0.35 EPS. Franklin Electric’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities analysts anticipate that Franklin Electric will post $1.66 earnings per share for the current fiscal year.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
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