Franklin Electric (NASDAQ:FELE) Receives "Neutral" Rating from DA Davidson

Key Points

• DA Davidson reaffirmed its “Neutral” rating on Franklin Electric and set a $105 price target, implying 6.84% upside from the prior close. MarketBeat’s analyst consensus is “Hold,” with an average target of $114.50.
• Franklin Electric shares fell 0.9% to $98.28 during Wednesday trading. The stock has traded between $89.54 and $115.82 over the past year.
• The company exceeded quarterly expectations, reporting $1.55 EPS versus the $1.44 consensus and revenue of $622.88 million versus $605.92 million estimates; revenue rose 6% year over year.

Franklin Electric (NASDAQ:FELE - Get Free Report)'s stock had its "neutral" rating restated by research analysts at DA Davidson in a research note issued on Wednesday, Benzinga reports. They currently have a $105.00 price objective on the industrial products company's stock. DA Davidson's price target would suggest a potential upside of 6.84% from the stock's previous close.

Other analysts have also issued reports about the stock. Weiss Ratings upgraded shares of Franklin Electric from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, July 30th. Wall Street Zen downgraded Franklin Electric from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Robert W. Baird boosted their target price on Franklin Electric from $118.00 to $124.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Franklin Electric presently has an average rating of "Hold" and an average target price of $114.50.

Franklin Electric Stock Down 0.9%

NASDAQ:FELE traded down $0.85 during mid-day trading on Wednesday, hitting $98.28. 149,169 shares of the company's stock were exchanged, compared to its average volume of 308,955. The company has a market cap of $4.35 billion, a PE ratio of 28.32, a P/E/G ratio of 1.79 and a beta of 1.02. 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 one year low of $89.54 and a one year high of $115.82. The business has a fifty day moving average price of $104.21 and a 200 day moving average price of $100.54.

Franklin Electric (NASDAQ:FELE - Get Free Report) last released its 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. Franklin Electric had a net margin of 7.06% and a return on equity of 15.18%. The firm had revenue of $622.88 million during the quarter, compared to analyst estimates of $605.92 million. During the same period last year, the business earned $1.31 earnings per share. The business's revenue was up 6.0% on a year-over-year basis. Franklin Electric has set its FY 2026 guidance at 4.500-4.700 EPS. Equities analysts predict that Franklin Electric will post 4.65 EPS for the current year.

Hedge Funds Weigh In On Franklin Electric

A number of institutional investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its position in Franklin Electric by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 8,716 shares of the industrial products company's stock worth $833,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Franklin Electric by 31.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 425 shares of the industrial products company's stock worth $38,000 after acquiring an additional 101 shares in the last quarter. LPL Financial LLC increased its holdings in Franklin Electric by 1.0% in the 4th quarter. LPL Financial LLC now owns 12,158 shares of the industrial products company's stock worth $1,161,000 after acquiring an additional 115 shares in the last quarter. Osaic Holdings Inc. raised its stake in Franklin Electric by 24.3% during the 2nd quarter. Osaic Holdings Inc. now owns 608 shares of the industrial products company's stock worth $55,000 after acquiring an additional 119 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Franklin Electric by 2.5% during the fourth quarter. Inspire Investing LLC now owns 4,968 shares of the industrial products company's stock valued at $475,000 after purchasing an additional 120 shares in the last quarter. 79.98% of the stock is owned by institutional investors.

Franklin Electric Company Profile

Franklin Electric Co, Inc is a world‐leading manufacturer and distributor of systems and components for moving and managing water and fuel. Headquartered in Fort Wayne, Indiana, the company specializes in designing engineered pumping systems and related controls for residential, commercial and industrial applications.

Founded in 1944, Franklin Electric has built its reputation on submersible and surface pumping solutions for water wells, municipal water and wastewater treatment, irrigation and industrial fluid handling.

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