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

Franklin Electric (NASDAQ:FELE - Get Free Report) had its price target reduced by investment analysts at Robert W. Baird from $107.00 to $105.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a "neutral" rating on the industrial products company's stock. Robert W. Baird's price objective indicates a potential upside of 8.81% from the stock's current price.

Franklin Electric Stock Performance

Shares of NASDAQ FELE traded up $0.41 during midday trading on Wednesday, reaching $96.50. The company had a trading volume of 175,646 shares, compared to its average volume of 174,740. The business's 50-day simple moving average is $101.92 and its 200 day simple moving average is $100.19. The stock has a market cap of $4.45 billion, a P/E ratio of 24.25, a P/E/G ratio of 2.02 and a beta of 0.95. Franklin Electric has a 1 year low of $84.32 and a 1 year high of $108.39. The company has a current ratio of 2.65, a quick ratio of 1.14 and a debt-to-equity ratio of 0.07.

Franklin Electric (NASDAQ:FELE - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.17 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.30 by ($0.13). The company had revenue of $531.40 million during the quarter, compared to analysts' expectations of $551.08 million. Franklin Electric had a return on equity of 15.57% and a net margin of 9.35%. The company's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.23 EPS. On average, analysts forecast that Franklin Electric will post 4.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. QRG Capital Management Inc. grew its position in 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 buying an additional 786 shares during the period. Van ECK Associates Corp grew its position in Franklin Electric by 40.0% during the third quarter. Van ECK Associates Corp now owns 24,818 shares of the industrial products company's stock valued at $2,532,000 after buying an additional 7,092 shares during the period. GHP Investment Advisors Inc. grew its position in Franklin Electric by 20.9% during the third quarter. GHP Investment Advisors Inc. now owns 59,226 shares of the industrial products company's stock valued at $6,208,000 after buying an additional 10,224 shares during the period. Boston Trust Walden Corp grew its position in Franklin Electric by 0.6% during the third quarter. Boston Trust Walden Corp now owns 659,057 shares of the industrial products company's stock valued at $69,082,000 after buying an additional 3,847 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Franklin Electric during the third quarter valued at $246,000. Hedge funds and other institutional investors own 79.98% of the company's stock.

About Franklin Electric

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.