Franklin Electric Co. Sees Significant Decrease in Short Interest (FELE)
Shares of Franklin Electric Co. (NASDAQ:FELE) were the recipient of a significant decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,009,040 shares, a decline of 25.1% from the January 15th total of 1,346,546 shares, American Banking News reports. Currently, 2.6% of the company’s stock are sold short. Based on an average trading volume of 222,360 shares, the days-to-cover ratio is presently 4.5 days.
Several analysts have recently commented on the stock. Analysts at Hilliard Lyons reiterated a “neutral” rating on shares of Franklin Electric Co. in a research note on Tuesday, December 31st. Separately, analysts at UBS AG downgraded shares of Franklin Electric Co. from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 3rd. They now have a $43.00 price target on the stock, up previously from $11.00. They noted that the move was a valuation call. Finally, analysts at Wedbush downgraded shares of Franklin Electric Co. from an “outperform” rating to a “neutral” rating in a research note on Tuesday, December 3rd. They now have a $43.00 price target on the stock. They noted that the move was a valuation call.
Franklin Electric Co. (NASDAQ:FELE) opened at 43.19 on Friday. Franklin Electric Co. has a 1-year low of $29.69 and a 1-year high of $46.11. The stock’s 50-day moving average is $41.46 and its 200-day moving average is $40.12. The company has a market cap of $2.058 billion and a price-to-earnings ratio of 23.46.
Franklin Electric Co. (NASDAQ:FELE) last issued its quarterly earnings data on Friday, February 28th. The company reported $0.30 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.30. The company had revenue of $229.70 million for the quarter, compared to the consensus estimate of $218.67 million. Analysts expect that Franklin Electric Co. will post $1.72 EPS for the current fiscal year.
Franklin Electric Co, Inc (NASDAQ:FELE) together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, consists of submersible motors, pumps, electronic controls and related parts and equipment.
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