Focus Financial Partners (NASDAQ:FOCS) Upgraded by Zacks Investment Research to Buy

Focus Financial Partners (NASDAQ:FOCS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday, Zacks.com reports. The brokerage presently has a $29.00 price target on the stock. Zacks Investment Research‘s price objective points to a potential upside of 9.43% from the stock’s previous close.

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. “

A number of other equities analysts have also recently issued reports on FOCS. SunTrust Banks set a $26.00 target price on shares of Focus Financial Partners and gave the stock a “hold” rating in a report on Friday, August 9th. William Blair reissued a “market perform” rating on shares of Focus Financial Partners in a report on Thursday, November 7th. BMO Capital Markets raised their target price on shares of Focus Financial Partners from $48.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Bank of America cut their target price on shares of Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $36.25.

Shares of NASDAQ FOCS opened at $26.50 on Wednesday. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 1.59. The firm’s 50-day moving average price is $23.14 and its two-hundred day moving average price is $26.33. Focus Financial Partners has a 52-week low of $19.05 and a 52-week high of $40.36. The stock has a market capitalization of $1.86 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.59 and a beta of 1.97.

Focus Financial Partners (NASDAQ:FOCS) last issued its earnings results on Thursday, November 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.04. Focus Financial Partners had a negative net margin of 0.93% and a positive return on equity of 16.83%. The firm had revenue of $316.60 million for the quarter, compared to analysts’ expectations of $308.55 million. During the same quarter last year, the company posted $0.46 earnings per share. Focus Financial Partners’s revenue was up 34.3% on a year-over-year basis. As a group, equities research analysts expect that Focus Financial Partners will post 1.96 earnings per share for the current year.

Large investors have recently made changes to their positions in the business. Kavar Capital Partners LLC acquired a new stake in shares of Focus Financial Partners in the second quarter valued at approximately $27,000. Point72 Hong Kong Ltd acquired a new stake in shares of Focus Financial Partners in the second quarter valued at approximately $31,000. Quantamental Technologies LLC increased its stake in shares of Focus Financial Partners by 225.0% in the second quarter. Quantamental Technologies LLC now owns 1,300 shares of the company’s stock valued at $36,000 after purchasing an additional 900 shares during the period. NumerixS Investment Technologies Inc acquired a new stake in shares of Focus Financial Partners in the second quarter valued at approximately $38,000. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of Focus Financial Partners in the second quarter valued at approximately $40,000. Institutional investors own 79.49% of the company’s stock.

About Focus Financial Partners

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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