Franklin Electric (NASDAQ:FELE) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Franklin Electric from “hold” to “buy,” while the broader analyst consensus remains “Hold,” with an average price target of $114.50.
• Franklin Electric beat quarterly expectations, reporting $1.55 in EPS versus the $1.44 consensus and revenue of $622.88 million versus $605.92 million; revenue increased 6% year over year.
• The stock opened at $95.51, down 0.7%, and institutional investors own approximately 79.98% of the company’s shares.

Franklin Electric (NASDAQ:FELE - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

Other analysts also recently issued reports about the stock. DA Davidson reiterated a "neutral" rating and issued a $105.00 price objective on shares of Franklin Electric in a research report on Wednesday, September 9th. Robert W. Baird upped their target price on shares of Franklin Electric from $118.00 to $124.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 29th. Finally, 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. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $114.50.

Franklin Electric Stock Down 0.7%

Shares of Franklin Electric stock opened at $95.51 on Friday. The company has a current ratio of 2.41, a quick ratio of 1.10 and a debt-to-equity ratio of 0.10. The business's 50 day simple moving average is $103.06 and its 200-day simple moving average is $100.48. The stock has a market capitalization of $4.22 billion, a price-to-earnings ratio of 27.53, a PEG ratio of 1.72 and a beta of 1.02. Franklin Electric has a twelve month low of $89.54 and a twelve month high of $115.82.

Franklin Electric (NASDAQ:FELE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The industrial products company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.11. Franklin Electric had a return on equity of 15.18% and a net margin of 7.06%.The business had revenue of $622.88 million for the quarter, compared to the consensus estimate of $605.92 million. During the same quarter last year, the business posted $1.31 EPS. 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 research analysts forecast that Franklin Electric will post 4.65 earnings per share for the current year.

Institutional Investors Weigh In On Franklin Electric

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Gamco Investors INC. ET AL lifted its holdings in shares of Franklin Electric by 4.4% during 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 purchasing an additional 10,858 shares during the last quarter. Principal Financial Group Inc. increased its stake in Franklin Electric by 4.8% in the 1st quarter. Principal Financial Group Inc. now owns 224,135 shares of the industrial products company's stock worth $20,659,000 after purchasing an additional 10,325 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Franklin Electric by 116.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 147,141 shares of the industrial products company's stock worth $13,562,000 after purchasing an additional 79,222 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Franklin Electric by 58.5% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 141,338 shares of the industrial products company's stock worth $13,027,000 after purchasing an additional 52,161 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Franklin Electric by 11.0% during the 1st quarter. Bank of America Corp DE now owns 824,085 shares of the industrial products company's stock worth $75,956,000 after buying an additional 81,988 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 designs, manufactures and distributes systems and components used to move, manage and control water and other fluids. Its products include submersible motors, pumps, drives, controls, pumping equipment, water-treatment systems and related accessories for residential, agricultural, commercial and municipal applications.

The company also supplies equipment for the fueling industry through products such as underground fuel pumps, piping systems, fuel-management equipment and leak-detection technologies.

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