Franklin Resources (NYSE:BEN) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Franklin Resources from “hold” to “buy,” although the broader analyst consensus remains “hold,” with four buys, six holds and two sells.
• Franklin Resources reported quarterly EPS of $0.72, exceeding estimates of $0.66, while revenue reached $2.36 billion and rose 14.3% year over year.
• The stock opened at $33.03, compared with a consensus price target of $33.10; institutional investors own approximately 47.56% of the company.

Franklin Resources (NYSE:BEN - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other equities analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $34.00 price objective on shares of Franklin Resources in a research note on Monday, August 3rd. Evercore restated an "underperform" rating and set a $35.00 price target on shares of Franklin Resources in a research report on Friday, July 10th. Barclays upped their price target on shares of Franklin Resources from $34.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday, August 3rd. Keefe, Bruyette & Woods started coverage on Franklin Resources in a research note on Wednesday, September 9th. They set a "hold" rating and a $38.00 price objective for the company. Finally, TD Cowen boosted their target price on Franklin Resources from $37.00 to $40.00 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $33.10.

Franklin Resources Price Performance

Shares of NYSE BEN opened at $33.03 on Friday. The stock has a market cap of $16.78 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 0.66 and a beta of 1.54. Franklin Resources has a fifty-two week low of $21.10 and a fifty-two week high of $36.28. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a fifty day moving average of $33.70 and a 200-day moving average of $30.87.

Franklin Resources (NYSE:BEN - Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The closed-end fund reported $0.72 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.06. Franklin Resources had a return on equity of 11.55% and a net margin of 8.72%.The business had revenue of $2.36 billion for the quarter, compared to analysts' expectations of $1.76 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The firm's quarterly revenue was up 14.3% on a year-over-year basis. Equities research analysts anticipate that Franklin Resources will post 2.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Compass Financial Management LLC bought a new stake in shares of Franklin Resources in the 2nd quarter valued at about $36,000. Hilton Head Capital Partners LLC purchased a new position in Franklin Resources in the 4th quarter worth approximately $36,000. EverSource Wealth Advisors LLC increased its stake in Franklin Resources by 39.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,837 shares of the closed-end fund's stock worth $44,000 after purchasing an additional 524 shares during the period. Nykredit A S bought a new stake in Franklin Resources in the second quarter valued at approximately $63,000. Finally, Global Retirement Partners LLC bought a new stake in Franklin Resources in the second quarter valued at approximately $73,000. 47.56% of the stock is owned by institutional investors.

Franklin Resources Company Profile

Franklin Resources, Inc, operating under the Franklin Templeton name, is a global investment management organization. The company provides investment solutions for individual investors, financial professionals, institutions and retirement plans through a broad range of strategies and investment vehicles.

Its offerings include mutual funds, exchange-traded funds, separately managed accounts, institutional mandates and alternative investments. Franklin Templeton manages strategies across equities, fixed income, multi-asset portfolios, alternatives and other specialized areas, while also providing investment research, portfolio management and wealth-management services.

Founded in 1947 by Rupert H.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.