Franklin Resources (NYSE:BEN) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Franklin Resources (BEN) from "hold" to "buy," marking a notable analyst upgrade amid mixed coverage of the stock.
• Analyst opinions remain mixed overall — three Buys, five Holds and three Sells — leaving an average consensus rating of "Hold" with an average price target of $28.56 (individual targets range from about $21–$37).
• Franklin Resources recently beat quarterly expectations with $0.71 EPS vs. $0.55 consensus and 8.7% year-over-year revenue growth to $1.75 billion, while trading near the top of its 12-month range (opened at $29.88).

Franklin Resources (NYSE:BEN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Several other research analysts have also issued reports on the stock. Evercore reissued an "underperform" rating and issued a $28.00 price target on shares of Franklin Resources in a research report on Wednesday. Weiss Ratings raised shares of Franklin Resources from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, April 22nd. Barclays set a $31.00 price target on shares of Franklin Resources and gave the stock an "equal weight" rating in a research report on Wednesday. TD Cowen increased their price target on shares of Franklin Resources from $33.00 to $37.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Morgan Stanley upped their price objective on shares of Franklin Resources from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 3rd. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Franklin Resources has an average rating of "Hold" and an average target price of $28.56.

Franklin Resources Stock Performance

NYSE:BEN opened at $29.88 on Friday. Franklin Resources has a 12-month low of $18.80 and a 12-month high of $30.36. The company has a quick ratio of 1.86, a current ratio of 1.87 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $15.53 billion, a PE ratio of 22.81, a price-to-earnings-growth ratio of 0.90 and a beta of 1.56. The firm has a 50-day moving average price of $25.64 and a 200 day moving average price of $24.68.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The closed-end fund reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.16. Franklin Resources had a net margin of 8.12% and a return on equity of 10.58%. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The company's quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Franklin Resources will post 2.61 earnings per share for the current fiscal year.

Institutional Trading of Franklin Resources

Large investors have recently added to or reduced their stakes in the company. Root Financial Partners LLC bought a new stake in Franklin Resources during the third quarter worth about $25,000. Danske Bank A S bought a new stake in Franklin Resources during the fourth quarter worth about $26,000. Rakuten Securities Inc. lifted its position in shares of Franklin Resources by 277.0% during the fourth quarter. Rakuten Securities Inc. now owns 1,150 shares of the closed-end fund's stock worth $27,000 after purchasing an additional 845 shares in the last quarter. Motiv8 Investments LLC acquired a new position in shares of Franklin Resources during the fourth quarter worth approximately $28,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Franklin Resources by 129.1% during the third quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the closed-end fund's stock worth $30,000 after purchasing an additional 740 shares in the last quarter. 47.56% of the stock is owned by institutional investors.

About Franklin Resources

Franklin Resources, Inc, doing business as Franklin Templeton, is a global investment management organization that offers a wide range of asset management solutions to institutional and individual investors. The firm's core focus is on delivering active portfolio management across equities, fixed income, multi-asset strategies and alternative investments. Franklin Templeton's product lineup includes mutual funds, exchange-traded funds (ETFs), closed-end funds, separately managed accounts and sub-advisory services designed to meet varying risk-return objectives and income needs.

Founded in 1947 by Rupert H.

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