Franklin Electric (NASDAQ:FELE)‘s stock had its “buy” rating reissued by Boenning Scattergood in a research note issued to investors on Tuesday. They currently have a $54.00 price objective on the industrial products company’s stock. Boenning Scattergood’s target price suggests a potential upside of 21.48% from the stock’s current price.
Several other equities analysts also recently weighed in on the stock. BidaskClub raised shares of Franklin Electric from a “strong sell” rating to a “sell” rating in a report on Thursday, February 15th. Zacks Investment Research downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Seaport Global Securities reaffirmed a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. Finally, Robert W. Baird boosted their target price on shares of Franklin Electric from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $50.67.
Shares of Franklin Electric (FELE) traded up $0.35 during trading hours on Tuesday, reaching $44.45. 129,000 shares of the company’s stock traded hands, compared to its average volume of 115,679. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.35 and a quick ratio of 1.13. Franklin Electric has a twelve month low of $36.00 and a twelve month high of $47.20. The stock has a market capitalization of $2,071.22, a P/E ratio of 23.90 and a beta of 1.53.
Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 in the last quarter. Advisor Group Inc. lifted its holdings in shares of 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 in the last quarter. SG Americas Securities LLC purchased a new position in shares of Franklin Electric in the third quarter worth $131,000. Meadow Creek Investment Management LLC lifted its holdings in shares of 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 worth $243,000 after buying an additional 1,204 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in shares of Franklin Electric in the fourth quarter worth $264,000. 77.78% of the stock is currently owned by hedge funds and other institutional investors.
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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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