Franklin Electric (NASDAQ:FELE) Raised to Strong-Buy at Zacks Research

Franklin Electric (NASDAQ:FELE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

Several other research analysts have also issued reports on FELE. Wall Street Zen lowered shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Monday. Robert W. Baird set a $130.00 price target on Franklin Electric in a report on Thursday, October 29th. DA Davidson upgraded Franklin Electric from a “neutral” rating to a “buy” rating and increased their price objective for the company from $105.00 to $135.00 in a research report on Monday. Finally, Weiss Ratings lowered Franklin Electric from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Franklin Electric has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Franklin Electric Stock Performance

Shares of FELE opened at $100.04 on Tuesday. The firm’s 50 day moving average is $98.26 and its 200-day moving average is $100.19. The stock has a market capitalization of $4.42 billion, a P/E ratio of 21.25, a P/E/G ratio of 1.76 and a beta of 1.02. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.33 and a quick ratio of 1.12. Franklin Electric has a 12-month low of $89.54 and a 12-month high of $115.82.

Franklin Electric (NASDAQ:FELE) last released its earnings results on Wednesday, October 28th. The industrial products company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Franklin Electric had a net margin of 8.83% and a return on equity of 15.45%. The business had revenue of $633.62 million for the quarter, compared to the consensus estimate of $617.19 million. During the same period in the previous year, the firm earned $1.30 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities research analysts anticipate that Franklin Electric will post 4.77 EPS for the current fiscal year.

Institutional Trading of Franklin Electric

Large investors have recently added to or reduced their stakes in the company. Keybank National Association OH boosted its position in shares of Franklin Electric by 17.4% in the third quarter. Keybank National Association OH now owns 6,383 shares of the industrial products company’s stock worth $612,000 after buying an additional 947 shares during the period. Running Oak Capital LLC grew its holdings in shares of Franklin Electric by 3.1% during the third quarter. Running Oak Capital LLC now owns 109,739 shares of the industrial products company’s stock valued at $10,523,000 after buying an additional 3,300 shares in the last quarter. StoneRidge PMG Advisors LLC acquired a new position in Franklin Electric during the third quarter valued at $258,000. Ethic Inc. raised its position in Franklin Electric by 78.4% during the third quarter. Ethic Inc. now owns 7,209 shares of the industrial products company’s stock valued at $691,000 after buying an additional 3,168 shares during the period. Finally, Heritage Family Offices LLP acquired a new position in Franklin Electric during the third quarter valued at $123,000. 79.98% of the stock is owned by institutional investors and hedge funds.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.