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

A number of other research firms also recently issued reports on FELE. Robert W. Baird restated a “hold” rating and set a $45.00 target price on shares of Franklin Electric in a research report on Wednesday, October 4th. Seaport Global Securities restated a “neutral” rating on shares of Franklin Electric in a research report on Wednesday, October 25th. Zacks Investment Research downgraded shares of Franklin Electric from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. Finally, Boenning Scattergood restated a “buy” rating on shares of Franklin Electric in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $49.33.

Franklin Electric (FELE) opened at $44.90 on Wednesday. The stock has a market cap of $2,100.00, a price-to-earnings ratio of 23.88 and a beta of 1.62. Franklin Electric has a 1 year low of $36.00 and a 1 year high of $47.20. The company has a current ratio of 2.35, a quick ratio of 1.13 and a debt-to-equity ratio of 0.18.

Franklin Electric (NASDAQ:FELE) last posted its earnings results on Tuesday, October 24th. The industrial products company reported $0.53 earnings per share (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 the consensus estimate of $317.54 million. Franklin Electric had a net margin of 8.13% and a return on equity of 13.09%. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share. equities analysts anticipate that Franklin Electric will post 1.89 EPS for the current fiscal year.

In other Franklin Electric news, VP Donald P. Kenney sold 4,754 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $45.00, for a total value of $213,930.00. Following the completion of the transaction, the vice president now owns 19,129 shares in the company, valued at $860,805. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.54% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. Advisor Group Inc. raised its position 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 acquiring an additional 116 shares during the period. Stifel Financial Corp raised its position in shares of 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 acquiring an additional 238 shares during the period. Public Employees Retirement System of Ohio raised its position 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 acquiring an additional 281 shares during the period. Amalgamated Bank raised its position in shares of Franklin Electric by 4.9% in the second quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock worth $262,000 after acquiring an additional 298 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Franklin Electric by 17.6% in the second quarter. Victory Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock worth $142,000 after acquiring an additional 512 shares during the period. Institutional investors and hedge funds own 76.94% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was posted by Watch List News and is owned by of Watch List News. If you are accessing this news story on another website, it was stolen and republished in violation of US and international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.watchlistnews.com/bidaskclub-downgrades-franklin-electric-fele-to-sell/1801218.html.

Franklin Electric Company Profile

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.

Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.