Franklin Electric (NASDAQ:FELE) Stock Rating Upgraded by Wall Street Zen

Franklin Electric (NASDAQ:FELE) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

FELE has been the subject of several other research reports. Weiss Ratings upgraded shares of Franklin Electric from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, July 30th. DA Davidson reiterated a “neutral” rating and set a $105.00 price objective on shares of Franklin Electric in a research report on Wednesday, September 9th. Finally, Robert W. Baird lifted their target price on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Up 0.0%

Shares of NASDAQ:FELE opened at $95.51 on Friday. The firm has a market cap of $4.22 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.71 and a beta of 1.02. Franklin Electric has a 12-month low of $89.54 and a 12-month high of $115.82. The business has a fifty day simple moving average of $103.06 and a 200 day simple moving average of $100.48. The company has a quick ratio of 1.10, a current ratio of 2.41 and a debt-to-equity ratio of 0.10.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The firm had revenue of $622.88 million for the quarter, compared to analyst estimates of $605.92 million. During the same quarter in the previous year, the company posted $1.31 EPS. The business’s revenue was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Analysts predict that Franklin Electric will post 4.65 earnings per share for the current year.

Institutional Trading of Franklin Electric

A number of hedge funds and other institutional investors have recently bought and sold shares of FELE. BlackRock Inc. bought a new position in shares of Franklin Electric in the second quarter valued at $698,173,000. Dimensional Fund Advisors LP increased its position in shares of Franklin Electric by 3.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,009,687 shares of the industrial products company’s stock worth $93,059,000 after acquiring an additional 36,268 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Franklin Electric in the 2nd quarter worth about $82,970,000. Amundi raised its holdings in shares of Franklin Electric by 25.2% in the 1st quarter. Amundi now owns 881,425 shares of the industrial products company’s stock worth $81,225,000 after acquiring an additional 177,433 shares during the last quarter. Finally, Norges Bank bought a new position in Franklin Electric in the 4th quarter valued at about $50,010,000. Institutional investors own 79.98% of the company’s stock.

About Franklin Electric

Franklin Electric Co, Inc designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.