Hilliard Lyons cuts Franklin Electric to Neutral

• Hilliard Lyons is out with a valuation call on Franklin Electric (FELE -1.6%), downgrading the shares to Neutral from Long-Term Buy.
• "With shares trading at 19.3 times and 10.2 times our respective 2015 EPS and EBITDA expectations (about two years forward), we can justify only minimal near-term upside," analyst Spencer Joyce says.
• Although the long-term story remains positive, Joyce would "prefer to exercise patience and add shares during periods of weakness."
• 2014 EPS estimate cut to $1.96 from $2.
• Notably, Wedbush made a similar call earlier this month.