Franklin Resources (NYSE:BEN) Stock Rating Upgraded by The Goldman Sachs Group

Franklin Resources (NYSE:BEN - Get Free Report) was upgraded by research analysts at The Goldman Sachs Group from a "neutral" rating to a "buy" rating in a research note issued on Friday,Finviz reports. The firm presently has a $29.00 target price on the closed-end fund's stock. The Goldman Sachs Group's price target indicates a potential upside of 23.48% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Morgan Stanley dropped their target price on shares of Franklin Resources from $18.00 to $15.00 and set an "underweight" rating for the company in a research report on Monday, April 7th. TD Cowen raised Franklin Resources from a "hold" rating to a "buy" rating and set a $27.00 price objective for the company in a research note on Wednesday, May 14th. Cowen reaffirmed a "buy" rating on shares of Franklin Resources in a research report on Monday, June 16th. Evercore ISI cut their target price on shares of Franklin Resources from $19.00 to $17.00 and set an "underperform" rating on the stock in a research note on Friday, April 11th. Finally, Barclays increased their price objective on Franklin Resources from $17.00 to $19.00 and gave the stock an "underweight" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Franklin Resources currently has a consensus rating of "Hold" and an average price target of $20.88.

Franklin Resources Stock Performance

Shares of BEN stock opened at $23.49 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.95 and a quick ratio of 1.95. The company has a market cap of $12.34 billion, a P/E ratio of 34.54, a P/E/G ratio of 3.13 and a beta of 1.43. Franklin Resources has a one year low of $16.25 and a one year high of $24.37. The firm has a 50-day moving average of $21.18 and a 200-day moving average of $20.32.

Franklin Resources (NYSE:BEN - Get Free Report) last posted its quarterly earnings data on Friday, May 2nd. The closed-end fund reported $0.47 EPS for the quarter, meeting the consensus estimate of $0.47. Franklin Resources had a return on equity of 9.13% and a net margin of 4.65%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. Franklin Resources's revenue for the quarter was down 6.2% on a year-over-year basis. Equities research analysts forecast that Franklin Resources will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Franklin Resources

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its stake in Franklin Resources by 147.1% during the 4th quarter. CoreCap Advisors LLC now owns 1,238 shares of the closed-end fund's stock valued at $25,000 after acquiring an additional 737 shares in the last quarter. GeoWealth Management LLC grew its stake in shares of Franklin Resources by 350.4% in the fourth quarter. GeoWealth Management LLC now owns 1,261 shares of the closed-end fund's stock valued at $26,000 after buying an additional 981 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of Franklin Resources by 49.9% during the first quarter. Manchester Capital Management LLC now owns 1,668 shares of the closed-end fund's stock worth $32,000 after purchasing an additional 555 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Franklin Resources by 44.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,641 shares of the closed-end fund's stock worth $33,000 after acquiring an additional 505 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in Franklin Resources during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 47.56% of the company's stock.

About Franklin Resources

Franklin Resources, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to individuals, institutions, pension plans, trusts, and partnerships. It launches equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries.

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