The stock of Franklin Electric Co. (NASDAQ:FELE) hit a new 52-week high and has $54.17 target or 31.00% above today’s $41.35 share price. The 7 months bullish chart indicates low risk for the $2.00B company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $54.17 price target is reached, the company will be worth $620.00 million 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 213,575 shares traded hands or 71.80% up from the average. Franklin Electric Co. (NASDAQ:FELE) has risen 35.18% since April 11, 2016 and is uptrending. It has outperformed by 29.03% the S&P500.
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. Franklin Electric has been the topic of 9 analyst reports since September 30, 2015 according to StockzIntelligence Inc. The firm has “Neutral” rating given on Friday, June 10 by Seaport Global. As per Monday, July 11, the company rating was upgraded by Boenning & Scattergood. The firm has “Neutral” rating given on Wednesday, February 24 by Wedbush. The rating was upgraded by Ladenburg Thalmann on Tuesday, January 12 to “Neutral”. Alembic initiated it with “Overweight” rating and $32 target price in Wednesday, September 30 report. Boenning & Scattergood initiated the shares of FELE in a report on Thursday, October 15 with “Neutral” rating. The firm has “Sell” rating by Ladenburg Thalmann given on Tuesday, December 22.
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 increased, 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.
Millennium Mgmt Ltd Co has invested 0% of its portfolio in Franklin Electric Co. (NASDAQ:FELE). Gamco Invsts Et Al last reported 349,000 shares in the company. New York State Teachers Retirement Sys reported 29,530 shares or 0% of all its holdings. Parametric holds 53,841 shares or 0% of its portfolio. Us Retail Bank De owns 18,331 shares or 0% of their US portfolio. Iab National Bank holds 10.45% or 494,190 shares in its portfolio. Moreover, Private Ocean Ltd Com has 0.07% invested in Franklin Electric Co. (NASDAQ:FELE) for 2,964 shares. Financial Bank Of Nova Scotia holds 0% of its portfolio in Franklin Electric Co. (NASDAQ:FELE) for 15,770 shares. Ahl Llp last reported 26,849 shares in the company. Moreover, Plante Moran Ltd Liability Company has 0.02% invested in Franklin Electric Co. (NASDAQ:FELE) for 822 shares. Bnp Paribas Arbitrage Sa has 12,421 shares for 0% of their US portfolio. Ftb Advsrs Incorporated has 616 shares for 0% of their US portfolio. Moreover, Pub Sector Pension Board has 0.01% invested in Franklin Electric Co. (NASDAQ:FELE) for 27,251 shares. Blackrock Gru last reported 0% of its portfolio in the stock. Capstone Asset Mngmt has 11,845 shares for 0.01% of their US portfolio.
Insider Transactions: Since June 1, 2016, the stock had 0 buys, and 15 sales for $2.11 million net activity. $220,400 worth of Franklin Electric Co. (NASDAQ:FELE) shares were sold by Kenney Donald P. The insider Strupp Thomas J sold $190,674. 1,422 Franklin Electric Co. (NASDAQ:FELE) shares with value of $53,069 were sold by davis delancey w. Another trade for 4,546 shares valued at $154,564 was sold by Haines John J. $278,137 worth of shares were sold by STONE ROBERT J on Friday, August 26. On Monday, August 1 Wathen David M sold $172,194 worth of the stock or 4,498 shares.
More recent Franklin Electric Co. (NASDAQ:FELE) news were published by: Equitiesfocus.com which released: “Franklin Electric Co., Inc. (NASDAQ:FELE) Reports Basic Consolidated EPS At $1 …” on November 11, 2016. Also Nasdaq.com published the news titled: “Ex-Dividend Reminder: Discover Financial Services, Adtran and Franklin Electric” on October 28, 2016. Barrons.com‘s news article titled: “Franklin Electric Shares Poised for an Up Cycle” with publication date: January 30, 2016 was also an interesting one.
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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