BidaskClub Downgrades Franklin Electric (FELE) to Strong Sell

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

FELE has been the topic of several other research reports. Zacks Investment Research downgraded Franklin Electric from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. Boenning Scattergood reiterated a “buy” rating on shares of Franklin Electric in a report on Tuesday, October 24th. Robert W. Baird lifted their price objective on Franklin Electric from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, October 25th. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of Franklin Electric in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.00.

Franklin Electric (NASDAQ:FELE) remained flat at $$45.30 on Wednesday. The stock had a trading volume of 110,923 shares, compared to its average volume of 113,763. The stock has a market cap of $2,094.52, a PE ratio of 24.35 and a beta of 1.62. The company has a quick ratio of 1.13, a current ratio of 2.35 and a debt-to-equity ratio of 0.18. Franklin Electric has a one year low of $36.00 and a one year high of $47.20.

A number of large investors have recently made changes to their positions in FELE. Teachers Advisors LLC increased its holdings in Franklin Electric by 4.5% during the 2nd quarter. Teachers Advisors LLC now owns 83,383 shares of the industrial products company’s stock valued at $3,452,000 after purchasing an additional 3,583 shares during the period. TIAA CREF Investment Management LLC increased its holdings in Franklin Electric by 0.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 125,471 shares of the industrial products company’s stock valued at $5,194,000 after purchasing an additional 539 shares during the period. Amalgamated Bank increased its holdings in Franklin Electric by 4.9% during the 2nd quarter. Amalgamated Bank now owns 6,324 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 298 shares during the period. PNC Financial Services Group Inc. increased its holdings in Franklin Electric by 56.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 10,373 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 3,757 shares during the period. Finally, UBS Asset Management Americas Inc. increased its holdings in Franklin Electric by 33.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 22,208 shares of the industrial products company’s stock valued at $919,000 after purchasing an additional 5,571 shares during the period. Institutional investors own 76.99% of the company’s stock.

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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.

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