Robert W. Baird Lowers Franklin Electric (NASDAQ:FELE) Price Target to $105.00

Franklin Electric (NASDAQ:FELE) had its price target lowered by investment analysts at Robert W. Baird from $107.00 to $105.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the industrial products company’s stock. Robert W. Baird’s target price would suggest a potential upside of 9.71% from the company’s previous close.

Franklin Electric Price Performance

FELE opened at $95.71 on Wednesday. The company has a market capitalization of $4.37 billion, a P/E ratio of 24.23, a PEG ratio of 2.02 and a beta of 0.95. The company has a 50-day moving average of $101.74 and a 200-day moving average of $100.13. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.14 and a current ratio of 2.65. Franklin Electric has a 1-year low of $84.32 and a 1-year high of $108.39.

Franklin Electric (NASDAQ:FELE) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.13). Franklin Electric had a net margin of 9.35% and a return on equity of 15.57%. The firm had revenue of $531.40 million during the quarter, compared to the consensus estimate of $551.08 million. During the same period in the prior year, the firm earned $1.23 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts expect that Franklin Electric will post 4.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Marks Group Wealth Management Inc raised its stake in Franklin Electric by 4.5% during the third quarter. Marks Group Wealth Management Inc now owns 81,497 shares of the industrial products company’s stock worth $8,543,000 after acquiring an additional 3,507 shares during the period. QRG Capital Management Inc. grew its holdings in shares of Franklin Electric by 16.0% during the third quarter. QRG Capital Management Inc. now owns 5,698 shares of the industrial products company’s stock valued at $597,000 after purchasing an additional 786 shares during the last quarter. Van ECK Associates Corp raised its position in shares of Franklin Electric by 40.0% during the 3rd quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company’s stock worth $2,532,000 after purchasing an additional 7,092 shares during the period. GHP Investment Advisors Inc. lifted its holdings in shares of Franklin Electric by 20.9% in the 3rd quarter. GHP Investment Advisors Inc. now owns 59,226 shares of the industrial products company’s stock worth $6,208,000 after purchasing an additional 10,224 shares during the last quarter. Finally, Boston Trust Walden Corp boosted its position in Franklin Electric by 0.6% during the 3rd quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company’s stock valued at $69,082,000 after purchasing an additional 3,847 shares during the period. 79.98% of the stock is currently owned by institutional investors.

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.