BidaskClub Downgrades Franklin Electric (FELE) to Sell

Franklin Electric (NASDAQ:FELE) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Friday.

FELE has been the topic of a number of other research reports. Boenning Scattergood reiterated an “outperform” rating on shares of Franklin Electric in a report on Tuesday, September 5th. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Robert W. Baird reiterated a “hold” rating and issued a $45.00 target price on shares of Franklin Electric in a report on Wednesday, October 4th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.33.

Shares of Franklin Electric (NASDAQ:FELE) opened at $44.95 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35. Franklin Electric has a 52 week low of $36.00 and a 52 week high of $47.20. The company has a market cap of $2,110.83, a PE ratio of 24.17 and a beta of 1.62.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $311.11 million during the quarter, compared to analyst estimates of $317.54 million. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. equities research analysts predict that Franklin Electric will post 1.89 EPS for the current fiscal year.

In other news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $45.00, for a total value of $213,930.00. Following the transaction, the vice president now owns 19,129 shares in the company, valued at approximately $860,805. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.54% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC increased its holdings in Franklin Electric by 0.3% in the second quarter. Manchester Capital Management LLC now owns 19,140 shares of the industrial products company’s stock worth $792,000 after buying an additional 50 shares during the last quarter. Arizona State Retirement System increased its holdings in Franklin Electric by 0.5% in the second quarter. Arizona State Retirement System now owns 20,121 shares of the industrial products company’s stock worth $833,000 after buying an additional 100 shares during the last quarter. Advisor Group Inc. increased its holdings in Franklin Electric by 3.9% in the second quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after buying an additional 116 shares during the last quarter. Stifel Financial Corp increased its holdings in Franklin Electric by 2.3% in the second quarter. Stifel Financial Corp now owns 10,768 shares of the industrial products company’s stock worth $446,000 after buying an additional 238 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Franklin Electric by 12.9% in the second quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock worth $102,000 after buying an additional 281 shares during the last quarter. Institutional investors own 76.94% of the company’s stock.

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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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