Focus Financial Partners (NASDAQ:FOCS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday, Zacks.com reports. The firm currently has a $26.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 13.64% from the stock’s current price.
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 equities analysts have also recently issued research reports about the company. Bank of America reduced their price target on Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating for the company in a report on Friday, August 9th. SunTrust Banks set a $26.00 price target on Focus Financial Partners and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $35.00 to $35.50 in a report on Friday, July 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.08.
Focus Financial Partners (NASDAQ:FOCS) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.06. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. The business had revenue of $301.55 million during the quarter, compared to analysts’ expectations of $292.29 million. During the same quarter last year, the company posted $0.40 earnings per share. Focus Financial Partners’s quarterly revenue was up 30.3% on a year-over-year basis. Research analysts forecast that Focus Financial Partners will post 1.96 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of FOCS. Kavar Capital Partners LLC acquired a new stake in Focus Financial Partners during the second quarter worth approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in Focus Financial Partners during the second quarter worth approximately $31,000. Quantamental Technologies LLC lifted its position in Focus Financial Partners by 225.0% during the second quarter. Quantamental Technologies LLC now owns 1,300 shares of the company’s stock worth $36,000 after acquiring an additional 900 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in Focus Financial Partners during the second quarter worth approximately $38,000. Finally, Tower Research Capital LLC TRC acquired a new stake in Focus Financial Partners during the second quarter worth approximately $40,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.
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.
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