In a report released today, Ryan Connors from Boenning & Scattergood maintained a Buy rating on Franklin Electric Co (FELE), with a price target of $54. The company’s shares opened today at $52.32, close to its 52-week high of $53.76.
Connors observed:
“We anticipate solid 2019 growth, driven by top-line and margin gains, and continue to see Franklin Electric as among the best-managed small- cap names in the water industrials space. We maintain our Outperform rating for FELE, with our $54 target reflecting a P/E of 22.6 times, in-line with the water infrastructure peer group.”
According to TipRanks.com, Connors is a 4-star analyst with an average return of 8.8% and a 69.5% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Advanced Drainage Systems, Watts Water Technologies, and Mueller Water Products.
Franklin Electric Co has an analyst consensus of Moderate Buy, with a price target consensus of $54.
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Franklin Electric Co’s market cap is currently $2.38B and has a P/E ratio of 26.86. The company has a Price to Book ratio of 3.24.
Based on the recent corporate insider activity of 60 insiders, corporate insider sentiment is negative on the stock.
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Franklin Electric Co., Inc. engages in the development, manufacture, and distribution of water and fuel pumping systems. It operates through the following business segments: Water Systems, Fueling Systems and Distribution.
