Market Analysts see Franklin Resources Inc. [BEN] gaining to $28. Time to buy?

Franklin Resources Inc. [NYSE: BEN] traded at a high on 11/16/20, posting a 3.71 gain after which it closed the day’ session at $21.27. The company report on November 16, 2020 that Media Advisory – Prime Minister’s itinerary for Monday, November 16, 2020.

OTTAWA, ON, Nov. 15, 2020 /CNW/ -.

Note: All times local.

The results of the trading session contributed to over 3532282 shares changing hands. Over the past one week, the price volatility of Franklin Resources Inc. stands at 3.20% while the volatility over the past one month is 4.01%.

The market cap for BEN stock reached $10.17 billion, with 490.40 million shares outstanding and 267.62 million shares in the current float. Compared to the average trading volume of 3.46M shares, BEN reached a trading volume of 3532282 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Franklin Resources Inc. [BEN]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BEN shares is $21.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BEN stock is a recommendation set at 3.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Keefe Bruyette have made an estimate for Franklin Resources Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 19, 2020. While these analysts kept the previous recommendation, BofA Securities raised their target price from $20 to $26. The new note on the price target was released on October 09, 2020, representing the official price target for Franklin Resources Inc. stock. Previously, the target price had yet another raise to $23, while JP Morgan analysts kept a Neutral rating on BEN stock.

The Average True Range (ATR) for Franklin Resources Inc. is set at 0.88, with the Price to Sales ratio for BEN stock in the period of the last 12 months amounting to 1.89. The Price to Book ratio for the last quarter was 1.03, with the Price to Cash per share for the same quarter was set at 14.58.

How has BEN stock performed recently?

Franklin Resources Inc. [BEN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.16. With this latest performance, BEN shares dropped by -9.45% in over the last four-week period, additionally plugging by 18.63% over the last 6 months – not to mention a drop of -23.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BEN stock in for the last two-week period is set at 53.14, with the RSI for the last a single of trading hit 57.39, and the three-weeks RSI is set at 52.09 for Franklin Resources Inc. [BEN]. The present Moving Average for the last 50 days of trading for this stock 20.91, while it was recorded at 20.54 for the last single week of trading, and 20.49 for the last 200 days.

Franklin Resources Inc. [BEN]: Deeper insight into the fundamentals

Earnings analysis for Franklin Resources Inc. [BEN]

With the latest financial reports released by the company, Franklin Resources Inc. posted 0.67/share EPS, while the average EPS was predicted by analysts to be reported at 0.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BEN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Franklin Resources Inc. go to 1.48%.

Insider trade positions for Franklin Resources Inc. [BEN]

There are presently around $5,006 million, or 50.30% of BEN stock, in the hands of institutional investors. The top three institutional holders of BEN stocks are: VANGUARD GROUP INC with ownership of 29,777,385, which is approximately -4.422% of the company’s market cap and around 1.10% of the total institutional ownership; BLACKROCK INC., holding 28,452,026 shares of the stock with an approximate value of $605.17 million in BEN stocks shares; and STATE STREET CORP, currently with $584.8 million in BEN stock with ownership of nearly -14.765% of the company’s market capitalization.

228 institutional holders increased their position in Franklin Resources Inc. [NYSE:BEN] by around 14,080,130 shares. Additionally, 226 investors decreased positions by around 23,639,025 shares, while 86 investors held positions by with 197,616,562 shares. The mentioned changes placed institutional holdings at 235,335,717 shares, according to the latest SEC report filing. BEN stock had 61 new institutional investments in for a total of 3,865,506 shares, while 57 institutional investors sold positions of 1,352,438 shares during the same period.

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