Franklin Electric (FELE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of Franklin Electric (NASDAQ:FELE) from a buy rating to a hold rating in a report released on Wednesday morning.

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. “

Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Franklin Electric from a hold rating to a sell rating in a research report on Friday, December 22nd. Boenning Scattergood restated a buy rating on shares of Franklin Electric in a research report on Tuesday, October 24th. Robert W. Baird restated a hold rating and set a $45.00 price objective on shares of Franklin Electric in a research report on Wednesday, October 4th. Finally, Seaport Global Securities restated a neutral rating on shares of Franklin Electric in a research report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Franklin Electric has a consensus rating of Hold and a consensus price target of $50.00.

Franklin Electric (NASDAQ:FELE) traded up $0.85 during trading on Wednesday, hitting $45.40. 138,372 shares of the stock traded hands, compared to its average volume of 90,822. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.13 and a current ratio of 2.35. The stock has a market cap of $2,075.88, a PE ratio of 24.41 and a beta of 1.62. Franklin Electric has a 12-month low of $36.00 and a 12-month high of $47.20.

Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $311.11 million for the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $0.48 EPS. equities research analysts forecast that Franklin Electric will post 1.89 EPS for the current year.

In related news, VP Donald P. Kenney sold 4,754 shares of Franklin Electric stock in a transaction on Friday, October 27th. The shares were 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 SEC, which is available through the SEC website. 2.54% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in Franklin Electric by 12.9% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,462 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 281 shares during the period. SG Americas Securities LLC purchased a new position in Franklin Electric in the 3rd quarter worth $131,000. Advisor Group Inc. raised its position in Franklin Electric by 3.9% in the 2nd quarter. Advisor Group Inc. now owns 3,071 shares of the industrial products company’s stock worth $127,000 after purchasing an additional 116 shares during the period. Victory Capital Management Inc. raised its position in Franklin Electric by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock worth $142,000 after purchasing an additional 512 shares during the period. Finally, Parametrica Management Ltd purchased a new position in Franklin Electric in the 3rd quarter worth $279,000. Institutional investors own 76.91% 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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