Focus Financial Partners (FOCS) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Focus Financial Partners (NASDAQ:FOCS) from a sell rating to a hold rating in a research report report published on Thursday morning, Zacks.com reports.

According to Zacks, “Focus Financial Partners Inc. provides wealth management services. The Company offers financial planning, asset allocation, asset management and tax preparation services. Focus Financial Partners Inc. is based in New York, United States. “

Other research analysts also recently issued research reports about the stock. SunTrust Banks assumed coverage on shares of Focus Financial Partners in a research note on Thursday, January 17th. They issued a hold rating and a $30.00 price target on the stock. BMO Capital Markets raised their price target on shares of Focus Financial Partners from $44.00 to $46.00 and gave the stock an outperform rating in a research note on Monday, February 25th. Oppenheimer assumed coverage on shares of Focus Financial Partners in a research note on Monday, April 8th. They issued an outperform rating and a $48.00 price target on the stock. Finally, Bank of America set a $37.00 price target on shares of Focus Financial Partners and gave the stock a hold rating in a research note on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Focus Financial Partners has a consensus rating of Hold and a consensus target price of $42.83.

Shares of FOCS traded down $0.55 during midday trading on Thursday, hitting $31.49. The stock had a trading volume of 2,644 shares, compared to its average volume of 245,889. Focus Financial Partners has a 1 year low of $22.61 and a 1 year high of $49.51. The company has a market cap of $2.19 billion and a P/E ratio of 31.83. The company has a current ratio of 2.73, a quick ratio of 2.28 and a debt-to-equity ratio of 1.56.

Focus Financial Partners (NASDAQ:FOCS) last announced its earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Focus Financial Partners had a negative net margin of 3.12% and a positive return on equity of 21.17%. The business had revenue of $259.90 million for the quarter, compared to the consensus estimate of $258.97 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 32.5% on a year-over-year basis. Analysts predict that Focus Financial Partners will post 1.95 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in Focus Financial Partners by 29.6% in the 1st quarter. FMR LLC now owns 1,816,700 shares of the company’s stock worth $64,747,000 after buying an additional 414,500 shares during the period. Fairview Capital Investment Management LLC increased its stake in Focus Financial Partners by 0.9% in the 1st quarter. Fairview Capital Investment Management LLC now owns 1,757,769 shares of the company’s stock worth $62,646,000 after buying an additional 16,500 shares during the period. JPMorgan Chase & Co. increased its stake in Focus Financial Partners by 8.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,643,287 shares of the company’s stock worth $58,566,000 after buying an additional 128,178 shares during the period. BlackRock Inc. increased its stake in Focus Financial Partners by 22.5% in the 1st quarter. BlackRock Inc. now owns 1,616,790 shares of the company’s stock worth $57,623,000 after buying an additional 296,604 shares during the period. Finally, Vanguard Group Inc purchased a new position in Focus Financial Partners in the 3rd quarter worth about $71,814,000. 76.86% of the stock is currently owned by institutional investors.

Focus Financial Partners Company Profile

Focus Financial Partners Inc provides wealth management services to primarily high net worth individuals and families. Its wealth management services include investment advice, financial and tax planning, consulting, tax return preparation, family office services, and other services. The company also offers recordkeeping and administration services.

See Also: Initial Public Offering (IPO)

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Analyst Recommendations for Focus Financial Partners (NASDAQ:FOCS)

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