The stock of Franklin Electric Co. (NASDAQ:FELE) hit a new 52-week high and has $55.49 target or 36.00% above today’s $40.80 share price. The 8 months bullish chart indicates low risk for the $1.86B company. The 1-year high was reported on Sep, 30 by Barchart.com. If the $55.49 price target is reached, the company will be worth $669.60M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 28,476 shares traded hands. Franklin Electric Co. (NASDAQ:FELE) has risen 32.52% since February 26, 2016 and is uptrending. It has outperformed by 22.10% the S&P500.
Analysts await Franklin Electric Co. (NASDAQ:FELE) to report earnings on October, 25. They expect $0.48 earnings per share, up 6.67% or $0.03 from last year’s $0.45 per share. FELE’s profit will be $21.88M for 21.25 P/E if the $0.48 EPS becomes a reality. After $0.51 actual earnings per share reported by Franklin Electric Co. for the previous quarter, Wall Street now forecasts -5.88% negative EPS growth.
Franklin Electric Co. (NASDAQ:FELE) Ratings Coverage
Out of 5 analysts covering Franklin Electric (NASDAQ:FELE), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. $36 is the highest target while $29 is the lowest. The $33.67 average target is -17.48% below today’s ($40.8) stock price. Franklin Electric has been the topic of 9 analyst reports since September 30, 2015 according to StockzIntelligence Inc. The stock of Franklin Electric Co. (NASDAQ:FELE) earned “Overweight” rating by Alembic on Wednesday, September 30. Boenning & Scattergood upgraded the shares of FELE in a report on Monday, July 11 to “Outperform” rating. As per Friday, June 10, the company rating was downgraded by Seaport Global. The stock of Franklin Electric Co. (NASDAQ:FELE) earned “Sell” rating by Ladenburg Thalmann on Tuesday, December 22. The rating was maintained by Wedbush with “Neutral” on Wednesday, February 24. As per Tuesday, January 12, the company rating was upgraded by Ladenburg Thalmann. The stock of Franklin Electric Co. (NASDAQ:FELE) earned “Neutral” rating by Boenning & Scattergood on Thursday, October 15.
According to Zacks Investment Research, “Franklin Electric Company is the world’s largest manufacturer of submersible electric motors and a leading producer of engineered specialty electric motor products and electronic controls used by original equipment manufacturers around the world, in a wide variety of residential, industrial and municipal applications. The principal application for Franklin’s submersible electric motors is for water well pumping systems.”
Insitutional Activity: The institutional sentiment increased to 1.5 in Q2 2016. Its up 0.59, from 0.91 in 2016Q1. The ratio is positive, as 13 funds sold all Franklin Electric Co. shares owned while 39 reduced positions. 16 funds bought stakes while 62 increased positions. They now own 35.01 million shares or 4.08% less from 36.50 million shares in 2016Q1.
Thrivent Fincl For Lutherans accumulated 0.02% or 142,162 shares. Moreover, Pacad Inv Limited has 0% invested in Franklin Electric Co. (NASDAQ:FELE) for 500 shares. Blackrock Ltd Liability accumulated 0.01% or 227,715 shares. First State Bank Of Omaha accumulated 53,285 shares or 0.13% of the stock. Bancorp Of New York Mellon holds 0.01% of its portfolio in Franklin Electric Co. (NASDAQ:FELE) for 524,428 shares. Pinebridge L P holds 0.01% or 4,860 shares in its portfolio. Aperio Gp Ltd Liability Co has 0% invested in the company for 18,187 shares. Da Davidson And Company has 0% invested in the company for 3,962 shares. Public Employees Retirement Association Of Colorado reported 10,140 shares or 0% of all its holdings. Teachers Advsrs has 72,569 shares for 0% of their US portfolio. Airain Ltd accumulated 0.04% or 22,029 shares. Invesco has 250,742 shares for 0% of their US portfolio. Monarch Capital Management owns 206,544 shares or 2.54% of their US portfolio. The California-based Private Ocean has invested 0.07% in Franklin Electric Co. (NASDAQ:FELE). Whittier Tru Com has invested 0% of its portfolio in Franklin Electric Co. (NASDAQ:FELE).
Insider Transactions: Since May 4, 2016, the stock had 0 buys, and 16 selling transactions for $2.11 million net activity. Shares for $45,178 were sold by Kenney Donald P on Wednesday, May 4. 3,500 shares were sold by Strupp Thomas J, worth $136,187. davis delancey w sold $53,069 worth of Franklin Electric Co. (NASDAQ:FELE) on Wednesday, August 3. $278,137 worth of Franklin Electric Co. (NASDAQ:FELE) shares were sold by STONE ROBERT J. $154,564 worth of Franklin Electric Co. (NASDAQ:FELE) was sold by Haines John J on Friday, June 3. Wathen David M sold $172,194 worth of stock.
More news for Franklin Electric Co. (NASDAQ:FELE) were recently published by: Barrons.com, which released: “Franklin Electric Shares Poised for an Up Cycle” on January 30, 2016. Finance.Yahoo.com‘s article titled: “Franklin Electric Appoints Jonathan Grandon as Chief Administrative Officer …” and published on September 12, 2016 is yet another important article.
FELE Company Profile
Franklin Electric Co., Inc., incorporated on November 12, 1946, together with its subsidiaries, is engaged in designing, manufacturing and distributing water and fuel pumping systems, composed of submersible motors, pumps, electronic controls, and related parts and equipment. The Company’s divisions include the Water Systems segment and the Fueling Systems segment. The Company’s Water Systems and Fueling Systems products and related equipment are sold to specialty distributors and original equipment manufacturers (OEMs), as well as industrial and petroleum equipment distributors, and oil and utility companies.
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