Franklin Electric Co., Inc. (FELE) Downgraded to “Sell” at BidaskClub
Franklin Electric Co., Inc. (NASDAQ:FELE) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday.
FELE has been the topic of several other reports. Zacks Investment Research lowered Franklin Electric Co. from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. Boenning Scattergood reissued an “outperform” rating and set a $52.00 price target (up from $44.00) on shares of Franklin Electric Co. in a research report on Wednesday, July 26th.
Franklin Electric Co. (NASDAQ FELE) traded up 0.53% on Friday, reaching $38.25. 3,674 shares of the company’s stock were exchanged. Franklin Electric Co. has a one year low of $34.75 and a one year high of $46.50. The firm has a 50 day moving average of $40.39 and a 200-day moving average of $40.59. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 20.79 and a beta of 1.60.
Franklin Electric Co. (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $305.35 million for the quarter, compared to analyst estimates of $310.13 million. Franklin Electric Co. had a return on equity of 13.10% and a net margin of 8.62%. Franklin Electric Co.’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 EPS. Equities research analysts forecast that Franklin Electric Co. will post $1.92 EPS for the current fiscal year.
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In other Franklin Electric Co. news, VP John J. Haines sold 4,000 shares of Franklin Electric Co. stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.00, for a total transaction of $164,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert J. Stone sold 39,260 shares of Franklin Electric Co. stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $45.00, for a total value of $1,766,700.00. Following the sale, the insider now owns 39,392 shares in the company, valued at $1,772,640. The disclosure for this sale can be found here. 2.54% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio increased its stake in Franklin Electric Co. 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 valued at $102,000 after buying an additional 281 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in shares of Franklin Electric Co. during the second quarter worth $345,000. Earnest Partners LLC increased its stake in shares of Franklin Electric Co. by 8.3% in the second quarter. Earnest Partners LLC now owns 2,248,817 shares of the industrial products company’s stock worth $93,101,000 after buying an additional 172,872 shares during the period. State Street Corp increased its stake in shares of Franklin Electric Co. by 5.3% in the second quarter. State Street Corp now owns 1,086,806 shares of the industrial products company’s stock worth $44,995,000 after buying an additional 55,118 shares during the period. Finally, AHL Partners LLP increased its stake in shares of Franklin Electric Co. by 117.7% in the second quarter. AHL Partners LLP now owns 24,984 shares of the industrial products company’s stock worth $1,035,000 after buying an additional 13,508 shares during the period. Institutional investors own 77.67% of the company’s stock.
Franklin Electric Co. 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.
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