Franklin Electric (NASDAQ:FELE – Get Rating) updated its FY22 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.50-3.75 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.58. The company issued revenue guidance of $1.90-2.05 billion, compared to the consensus revenue estimate of $1.97 billion.
Several brokerages have issued reports on FELE. Boenning Scattergood raised shares of Franklin Electric from a neutral rating to an outperform rating and set a $95.00 target price for the company in a report on Wednesday, March 9th. Robert W. Baird lifted their price target on shares of Franklin Electric from $94.00 to $100.00 in a research note on Wednesday, February 16th. StockNews.com initiated coverage on shares of Franklin Electric in a research report on Thursday, March 31st. They set a buy rating for the company. Finally, Zacks Investment Research lowered shares of Franklin Electric from a buy rating to a hold rating in a research report on Tuesday, April 19th.
FELE stock opened at $80.03 on Tuesday. Franklin Electric has a one year low of $76.70 and a one year high of $96.95. The company’s fifty day moving average price is $82.59 and its 200-day moving average price is $87.11. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.69 and a current ratio of 1.83. The company has a market capitalization of $3.71 billion, a PE ratio of 24.62 and a beta of 0.98.
In other news, insider Delancey W. Davis sold 3,075 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $85.30, for a total value of $262,297.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of FELE. Harbour Investments Inc. grew its stake in Franklin Electric by 9,600.0% in the 4th quarter. Harbour Investments Inc. now owns 388 shares of the industrial products company’s stock valued at $37,000 after acquiring an additional 384 shares during the period. LPL Financial LLC acquired a new position in Franklin Electric during the third quarter worth $229,000. Royal Bank of Canada boosted its stake in shares of Franklin Electric by 17.2% during the 3rd quarter. Royal Bank of Canada now owns 5,426 shares of the industrial products company’s stock worth $433,000 after purchasing an additional 797 shares during the last quarter. MML Investors Services LLC boosted its position in shares of Franklin Electric by 3.0% in the fourth quarter. MML Investors Services LLC now owns 4,731 shares of the industrial products company’s stock worth $447,000 after acquiring an additional 139 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its holdings in Franklin Electric by 16.2% in the fourth quarter. Vident Investment Advisory LLC now owns 9,057 shares of the industrial products company’s stock valued at $856,000 after buying an additional 1,260 shares during the period. 77.01% of the stock is owned by institutional investors.
Franklin Electric Company Profile (Get Rating)
Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates through three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, water treatment systems, monitoring devices, and related parts and equipment.
- Get a free copy of the StockNews.com research report on Franklin Electric (FELE)
- Synchrony Financial Stock is Ready to Slingshot Back Up
- Why These 3 Stocks Matter Most in the Dow
- Cisco Systems Stock Bestows Another Buy the Dip Opportunity
- 3 Stocks Near 52-Week Highs That Still Look Cheap
- Is Cleveland-Cliffs Stock a Safe Bet After Earnings?
Receive News & Ratings for Franklin Electric Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Electric and related companies with MarketBeat.com's FREE daily email newsletter.