Franklin Electric (FELE) Raised to Hold at Zacks Investment Research

Franklin Electric (NASDAQ:FELE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

According to Zacks, “Franklin Electric is a global leader in the production and marketing of systems and components for the movement of water and automotive fuels. Franklin Electric has produced high-quality industrial pumps, filters and accessories. By introducing the new Little Giant PondWorks program, Franklin Electric now brings the same exceptional knowledge, experience, and quality to the recreational water gardening and outdoor living markets. “

Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, September 20th. ValuEngine upgraded Franklin Electric from a “hold” rating to a “buy” rating in a report on Thursday, July 26th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Franklin Electric presently has a consensus rating of “Hold” and an average price target of $48.80.

Shares of NASDAQ FELE traded down $0.17 during midday trading on Thursday, hitting $45.79. The company’s stock had a trading volume of 124,939 shares, compared to its average volume of 118,050. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.00 and a current ratio of 2.22. Franklin Electric has a 12-month low of $38.45 and a 12-month high of $51.45. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 23.85, a PEG ratio of 2.36 and a beta of 1.60.

Franklin Electric (NASDAQ:FELE) last issued its quarterly earnings results on Friday, October 26th. The industrial products company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.02). Franklin Electric had a return on equity of 14.22% and a net margin of 7.07%. The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $342.18 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. Sell-side analysts predict that Franklin Electric will post 2.24 earnings per share for the current year.

In other Franklin Electric news, VP Steven William Aikman sold 1,500 shares of the firm’s stock in a transaction on Friday, September 14th. The stock was sold at an average price of $50.21, for a total transaction of $75,315.00. Following the transaction, the vice president now directly owns 16,515 shares in the company, valued at approximately $829,218.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.54% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FELE. Legal & General Group Plc raised its holdings in Franklin Electric by 1.5% during the 1st quarter. Legal & General Group Plc now owns 82,480 shares of the industrial products company’s stock worth $3,335,000 after buying an additional 1,238 shares during the period. Xact Kapitalforvaltning AB raised its holdings in Franklin Electric by 61.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,323 shares of the industrial products company’s stock worth $298,000 after buying an additional 2,800 shares during the period. Channing Capital Management LLC raised its holdings in Franklin Electric by 12.7% during the 2nd quarter. Channing Capital Management LLC now owns 1,392,867 shares of the industrial products company’s stock worth $62,818,000 after buying an additional 156,908 shares during the period. Tributary Capital Management LLC raised its holdings in Franklin Electric by 19.4% during the 2nd quarter. Tributary Capital Management LLC now owns 458,304 shares of the industrial products company’s stock worth $20,670,000 after buying an additional 74,477 shares during the period. Finally, Kaizen Advisory LLC raised its holdings in Franklin Electric by 299.6% during the 2nd quarter. Kaizen Advisory LLC now owns 25,193 shares of the industrial products company’s stock worth $1,136,000 after buying an additional 18,888 shares during the period. Institutional investors own 77.88% 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.

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