Robert W. Baird Issues Pessimistic Forecast for Franklin Electric (NASDAQ:FELE) Stock Price

Franklin Electric (NASDAQ:FELE) had its price target dropped by stock analysts at Robert W. Baird from $107.00 to $105.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s price target would suggest a potential upside of 9.71% from the company’s current price.

Franklin Electric Trading Down 0.8 %

Shares of FELE stock opened at $95.71 on Wednesday. The company has a quick ratio of 1.14, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. Franklin Electric has a fifty-two week low of $84.32 and a fifty-two week high of $108.39. The firm’s 50 day moving average price is $101.74 and its two-hundred day moving average price is $100.13. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 2.02 and a beta of 0.95.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.13). Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The business had revenue of $531.40 million for the quarter, compared to analysts’ expectations of $551.08 million. During the same period last year, the company posted $1.23 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts anticipate that Franklin Electric will post 4.22 EPS for the current year.

Institutional Trading of Franklin Electric

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Franklin Electric by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 4,751,322 shares of the industrial products company’s stock valued at $507,489,000 after purchasing an additional 30,408 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Franklin Electric by 2.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,030,238 shares of the industrial products company’s stock valued at $212,810,000 after acquiring an additional 40,248 shares in the last quarter. Earnest Partners LLC grew its stake in shares of Franklin Electric by 2.6% during the second quarter. Earnest Partners LLC now owns 1,563,125 shares of the industrial products company’s stock valued at $150,560,000 after acquiring an additional 39,478 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock worth $69,082,000 after acquiring an additional 3,847 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Franklin Electric by 6.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 361,654 shares of the industrial products company’s stock worth $34,833,000 after acquiring an additional 21,890 shares in the last quarter. 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.