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

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

Other equities research analysts also recently issued research reports about the company. Robert W. Baird set a $112.00 price target on Franklin Electric in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Franklin Electric in a report on Monday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $112.00.

Franklin Electric Stock Down 0.4%

FELE stock opened at $94.12 on Friday. Franklin Electric has a fifty-two week low of $78.87 and a fifty-two week high of $109.97. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.54 and a quick ratio of 1.12. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of 30.66, a PEG ratio of 1.89 and a beta of 1.07. The business’s fifty day moving average price is $94.90 and its two-hundred day moving average price is $93.10.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.29 by $0.01. The business had revenue of $581.71 million for the quarter, compared to the consensus estimate of $563.18 million. Franklin Electric had a net margin of 6.71% and a return on equity of 14.24%. Franklin Electric’s revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. Franklin Electric has set its FY 2025 guidance at 4.000-4.200 EPS. On average, equities analysts anticipate that Franklin Electric will post 4.19 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Electric

Several institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Franklin Electric in the third quarter worth approximately $405,000. Captrust Financial Advisors increased its position in Franklin Electric by 0.4% during the 3rd quarter. Captrust Financial Advisors now owns 32,496 shares of the industrial products company’s stock valued at $3,094,000 after purchasing an additional 128 shares during the period. NewEdge Advisors LLC raised its holdings in Franklin Electric by 14.1% during the 3rd quarter. NewEdge Advisors LLC now owns 6,338 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 783 shares during the last quarter. Dark Forest Capital Management LP bought a new position in Franklin Electric during the 3rd quarter worth approximately $996,000. Finally, Quarry LP acquired a new position in shares of Franklin Electric in the 3rd quarter worth approximately $28,000. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Company Profile

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