Robert W. Baird Reiterates Hold Rating for Franklin Electric (FELE)
Franklin Electric (NASDAQ:FELE)‘s stock had its “hold” rating reiterated by equities research analysts at Robert W. Baird in a research report issued on Friday. They presently have a $47.00 target price on the industrial products company’s stock. Robert W. Baird’s price objective indicates a potential upside of 15.06% from the company’s previous close.
Several other research firms have also recently commented on FELE. Zacks Investment Research raised shares of Franklin Electric from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Tuesday, January 16th. BidaskClub cut shares of Franklin Electric from a “sell” rating to a “strong sell” rating in a research note on Wednesday, January 31st. Boenning Scattergood reissued a “buy” rating and set a $54.00 price target on shares of Franklin Electric in a research note on Tuesday. Finally, Gabelli reissued a “hold” rating on shares of Franklin Electric in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $48.67.
Shares of Franklin Electric (FELE) traded up $0.60 during trading on Friday, reaching $40.85. 202,171 shares of the company’s stock traded hands, compared to its average volume of 119,266. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.40 and a quick ratio of 1.13. The company has a market capitalization of $1,875.52, a PE ratio of 24.61 and a beta of 1.53. Franklin Electric has a 1 year low of $36.00 and a 1 year high of $47.20.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Franklin Electric by 12.9% during the second quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 281 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Franklin Electric during the third quarter valued at approximately $131,000. Xact Kapitalforvaltning AB acquired a new position in Franklin Electric in the fourth quarter valued at approximately $208,000. Meadow Creek Investment Management LLC lifted its holdings in Franklin Electric by 29.5% in the fourth quarter. Meadow Creek Investment Management LLC now owns 5,292 shares of the industrial products company’s stock valued at $243,000 after buying an additional 1,204 shares during the period. Finally, Advisor Group Inc. lifted its holdings in Franklin Electric by 51.7% in the fourth quarter. Advisor Group Inc. now owns 5,439 shares of the industrial products company’s stock valued at $250,000 after buying an additional 1,854 shares during the period. 77.78% of the stock is currently owned by institutional investors and hedge funds.
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About Franklin Electric
Franklin Electric Co, Inc designs, manufactures and distributes water and fuel pumping systems, consisting of submersible motors, pumps, electronic controls and related parts and equipment. Its segments include Water Systems segment, the Fueling Systems segment and Other. Its Water Systems segment is engaged in the production and marketing of water pumping systems and offers motors, pumps, drives, electronic controls and monitoring devices.
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