BidaskClub cut shares of Franklin Electric (NASDAQ:FELE) from a hold rating to a sell rating in a research note published on Thursday.

Other equities research analysts also recently issued research reports about the stock. DA Davidson began coverage on shares of Franklin Electric in a research note on Monday, June 11th. They issued a neutral rating and a $50.00 price objective on the stock. Zacks Investment Research downgraded shares of Franklin Electric from a buy rating to a hold rating in a research note on Wednesday, July 18th. One investment analyst has 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. Franklin Electric has a consensus rating of Hold and an average price target of $48.80.

Shares of Franklin Electric opened at $46.70 on Thursday, Marketbeat reports. The firm has a market capitalization of $2.17 billion, a PE ratio of 24.32, a P/E/G ratio of 2.39 and a beta of 1.59. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.03 and a current ratio of 2.22. Franklin Electric has a 1 year low of $37.60 and a 1 year high of $48.80.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, May 1st. The industrial products company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.07. The business had revenue of $295.60 million for the quarter, compared to the consensus estimate of $290.73 million. Franklin Electric had a net margin of 6.97% and a return on equity of 13.33%. Franklin Electric’s quarterly revenue was up 34.2% on a year-over-year basis. During the same quarter last year, the company posted $0.33 earnings per share. sell-side analysts anticipate that Franklin Electric will post 2.3 earnings per share for the current year.

In other Franklin Electric news, VP Steven William Aikman sold 3,000 shares of Franklin Electric stock in a transaction on Friday, May 18th. The shares were sold at an average price of $46.02, for a total transaction of $138,060.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Donald P. Kenney sold 1,281 shares of Franklin Electric stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $45.00, for a total transaction of $57,645.00. The disclosure for this sale can be found here. Insiders have sold 6,056 shares of company stock worth $274,952 in the last quarter. Corporate insiders own 2.52% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FELE. Wells Fargo & Company MN lifted its holdings in shares of Franklin Electric by 12.7% during the first quarter. Wells Fargo & Company MN now owns 1,772,809 shares of the industrial products company’s stock valued at $72,243,000 after acquiring an additional 200,358 shares during the period. Channing Capital Management LLC lifted its holdings in shares of Franklin Electric by 12.7% during 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 acquiring an additional 156,908 shares during the period. Deutsche Bank AG lifted its holdings in shares of Franklin Electric by 82.7% during the fourth quarter. Deutsche Bank AG now owns 284,875 shares of the industrial products company’s stock valued at $13,071,000 after acquiring an additional 128,965 shares during the period. BlackRock Inc. lifted its holdings in shares of Franklin Electric by 1.0% during the first quarter. BlackRock Inc. now owns 5,367,125 shares of the industrial products company’s stock valued at $218,711,000 after acquiring an additional 55,474 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Franklin Electric by 479.1% during the fourth quarter. Millennium Management LLC now owns 60,527 shares of the industrial products company’s stock valued at $2,778,000 after acquiring an additional 50,075 shares during the period. 76.78% of the stock is owned by institutional investors.

About Franklin Electric

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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