Franklin Electric (NASDAQ:FELE) Trading Up 5.5%

Franklin Electric Co. (NASDAQ:FELE) was up 5.5% during trading on Thursday . The company traded as high as $44.89 and last traded at $44.57, approximately 311,500 shares traded hands during mid-day trading. An increase of 29% from the average daily volume of 241,113 shares. The stock had previously closed at $42.24.

A number of research analysts recently commented on FELE shares. BidaskClub lowered Franklin Electric from a “buy” rating to a “hold” rating in a research note on Saturday, January 25th. Zacks Investment Research upgraded Franklin Electric from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, DA Davidson upgraded Franklin Electric from a “neutral” rating to a “buy” rating and upped their price target for the company from $53.00 to $60.00 in a research report on Monday, March 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $56.00.

The business has a 50-day simple moving average of $51.97 and a two-hundred day simple moving average of $53.52. The stock has a market capitalization of $2.19 billion, a P/E ratio of 21.96 and a beta of 1.18. The company has a quick ratio of 1.44, a current ratio of 3.05 and a debt-to-equity ratio of 0.14.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, February 18th. The industrial products company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.08). The company had revenue of $320.10 million during the quarter, compared to the consensus estimate of $321.53 million. Franklin Electric had a net margin of 7.26% and a return on equity of 12.62%. The business’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, sell-side analysts forecast that Franklin Electric Co. will post 2.27 earnings per share for the current year.

In other news, insider Delancey W. Davis sold 10,546 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $57.69, for a total transaction of $608,398.74. Following the sale, the insider now owns 21,023 shares in the company, valued at $1,212,816.87. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Delancey W. Davis sold 3,469 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $55.00, for a total value of $190,795.00. Following the sale, the insider now owns 21,256 shares in the company, valued at approximately $1,169,080. The disclosure for this sale can be found here. 2.88% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of FELE. Penserra Capital Management LLC bought a new position in Franklin Electric in the fourth quarter valued at about $28,000. Citizens Financial Group Inc RI bought a new position in Franklin Electric in the fourth quarter valued at about $32,000. Evoke Wealth LLC bought a new position in Franklin Electric in the third quarter valued at about $33,000. Advisory Alpha LLC boosted its holdings in Franklin Electric by 50.0% in the fourth quarter. Advisory Alpha LLC now owns 900 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 300 shares during the last quarter. Finally, Great Diamond Partners LLC bought a new position in Franklin Electric in the fourth quarter valued at about $57,000. Institutional investors and hedge funds own 79.36% of the company’s stock.

About Franklin Electric (NASDAQ:FELE)

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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