Franklin Electric Co. (FELE) is Upgraded by Boenning & Scattergood to Outperform, Price Target at $40

Franklin Electric Co. (FELE) was Upgraded by Boenning & Scattergood to ” Outperform” and the brokerage firm has set the Price Target at $40. Earlier the firm had a rating of “Neutral ” on the company shares. Boenning & Scattergood advised their investors in a research report released on Jul 11, 2016.

Many Wall Street Analysts have commented on Franklin Electric Co.. Seaport Global Securities Downgraded Franklin Electric Co. on Jun 10, 2016 to ” Neutral”, Price Target of the shares are set at $36.

On the company’s financial health, Franklin Electric Co. reported $0.29 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 2, 2016. Analyst had a consensus of $0.31. The company had revenue of $218.40 million for the quarter, compared to analysts expectations of $217.21 million. The company’s revenue was down -3.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.32 EPS.

Franklin Electric Co. opened for trading at $33.81 and hit $34.18 on the upside on Friday, eventually ending the session at $34.11, with a gain of 2.40% or 0.8 points. The heightened volatility saw the trading volume jump to 2,40,502 shares. Company has a market cap of $1,575 M.

In a different news, on Jun 8, 2016, Donald P Kenney (VP & President Energy Systems) sold 1,100 shares at $34.24 per share price. According to the SEC, on Jun 6, 2016, John J Haines (Vice President and CFO) sold 4,546 shares at $34.00 per share price. On May 10, 2016, Delancey W Davis (Vice President) sold 2,971 shares at $32.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Franklin Electric Co Inc. 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 business consists of two segments: the Water Systems segment and the Fueling Systems segment. The Company’s Water Systems produces and markets water pumping systems and is also engaged in submersible motors pumps drives electronic controls and monitoring devices. The Company’s Fueling Systems is engaged in the production and marketing of fuel pumping systems fuel containment systems and monitoring and control systems. The Company’s Water Systems and Fueling Systems products and related equipment are sold to specialty distributors and some original equipment manufacturers as well as industrial and petroleum equipment distributors and oil and utility companies.

Franklin Electric Co.

Leave a Reply

Franklin Electric Co. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Franklin Electric Co.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.