Franklin Electric Co. (NASDAQ:FELE) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Franklin Electric Co. (NASDAQ:FELE) have been given a consensus rating of “Hold” by the eight ratings firms that are currently covering the stock. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $33.75.
Several research firms have commented on FELE. Zacks Investment Research cut Franklin Electric from a “buy” rating to a “hold” rating in a report on Tuesday, September 6th. Boenning Scattergood raised Franklin Electric from a “neutral” rating to an “outperform” rating and set a $40.00 price target for the company in a report on Monday, July 11th.
Franklin Electric (NASDAQ:FELE) traded down 0.20% during mid-day trading on Monday, hitting $39.85. The stock had a trading volume of 28,594 shares. Franklin Electric has a 1-year low of $23.75 and a 1-year high of $41.13. The firm has a market cap of $1.84 billion, a P/E ratio of 25.88 and a beta of 1.61. The stock has a 50 day moving average of $38.87 and a 200-day moving average of $35.29.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/franklin-electric-co-nasdaqfele-given-consensus-recommendation-of-hold-by-brokerages.html
Franklin Electric (NASDAQ:FELE) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.49 by $0.02. The firm earned $252.10 million during the quarter, compared to analysts’ expectations of $255.60 million. Franklin Electric had a return on equity of 13.27% and a net margin of 8.07%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 EPS. Analysts predict that Franklin Electric will post $1.66 EPS for the current fiscal year.
In other news, insider Robert J. Stone sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $40.03, for a total value of $400,300.00. Following the sale, the insider now directly owns 36,359 shares in the company, valued at approximately $1,455,450.77. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald P. Kenney sold 1,405 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $37.76, for a total value of $53,052.80. Following the completion of the sale, the vice president now owns 16,127 shares in the company, valued at $608,955.52. The disclosure for this sale can be found here. 2.67% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in Franklin Electric by 3.9% in the second quarter. PineBridge Investments L.P. now owns 4,860 shares of the company’s stock worth $160,000 after buying an additional 184 shares during the period. NEXT Financial Group Inc raised its stake in Franklin Electric by 42.7% in the second quarter. NEXT Financial Group Inc now owns 5,177 shares of the company’s stock worth $171,000 after buying an additional 1,550 shares during the period. Teacher Retirement System of Texas raised its stake in Franklin Electric by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 5,503 shares of the company’s stock worth $182,000 after buying an additional 671 shares during the period. Amalgamated Bank acquired a new stake in Franklin Electric during the second quarter worth approximately $202,000. Finally, PNC Financial Services Group Inc. raised its stake in Franklin Electric by 1.6% in the second quarter. PNC Financial Services Group Inc. now owns 6,394 shares of the company’s stock worth $210,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 78.91% of the company’s stock.
About Franklin Electric
Franklin Electric Co, Inc, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s segments include the Water Systems segment and the Fueling Systems segment.
Receive News & Ratings for Franklin Electric Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric Co. and related companies with MarketBeat.com's FREE daily email newsletter.