Franklin Electric (NASDAQ:FELE) Stock Rating Raised to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Franklin Electric (NASDAQ:FELE) from a hold rating to a buy rating in a research note issued to investors on Sunday,Wall Street Zen reports.

Several other research analysts have also issued reports on FELE. DA Davidson reaffirmed a “neutral” rating and set a $105.00 target price on shares of Franklin Electric in a research report on Wednesday, September 9th. Robert W. Baird lifted their target price on Franklin Electric from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Wednesday, July 29th. Finally, Weiss Ratings upgraded Franklin Electric from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 14th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $114.50.

Franklin Electric Stock Performance

FELE opened at $98.36 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.10. Franklin Electric has a fifty-two week low of $89.54 and a fifty-two week high of $115.82. The company’s 50 day moving average price is $98.97 and its two-hundred day moving average price is $101.31. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 28.35, a PEG ratio of 1.76 and a beta of 1.03.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.11. The firm had revenue of $622.88 million during the quarter, compared to the consensus estimate of $605.92 million. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.31 earnings per share. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. As a group, research analysts predict that Franklin Electric will post 4.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of FELE. Caisse de depot et placement du Quebec bought a new position in Franklin Electric during the second quarter worth $1,694,000. Gamco Investors INC. ET AL lifted its holdings in Franklin Electric by 4.4% in the first quarter. Gamco Investors INC. ET AL now owns 256,624 shares of the industrial products company’s stock valued at $23,653,000 after buying an additional 10,858 shares during the period. Principal Financial Group Inc. boosted its position in Franklin Electric by 4.8% during the first quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company’s stock valued at $20,659,000 after acquiring an additional 10,325 shares during the last quarter. Engineers Gate Manager LP boosted its position in Franklin Electric by 687.1% during the second quarter. Engineers Gate Manager LP now owns 32,666 shares of the industrial products company’s stock valued at $3,501,000 after acquiring an additional 28,516 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Franklin Electric by 116.6% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company’s stock worth $13,562,000 after acquiring an additional 79,222 shares during the period. Institutional investors and hedge funds own 79.98% of the company’s stock.

Franklin Electric Company Profile

Franklin Electric Co, Inc (NASDAQ: FELE) designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. The company serves residential, agricultural, commercial, industrial and municipal customers through products such as submersible pumps, motors, pumping systems, drives, controls, monitoring equipment and water-treatment solutions.

Its Water Systems business provides equipment for groundwater and surface-water applications, including well pumps, pressure systems, wastewater and dewatering products, and related controls and accessories.