BidaskClub Upgrades Focus Financial Partners (NASDAQ:FOCS) to Sell

Focus Financial Partners (NASDAQ:FOCS) was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday, BidAskClub reports.

A number of other equities research analysts also recently commented on the stock. Truist Financial increased their price objective on shares of Focus Financial Partners from $30.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Oppenheimer increased their target price on shares of Focus Financial Partners from $29.00 to $39.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Zacks Investment Research raised shares of Focus Financial Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Bank of America increased their target price on shares of Focus Financial Partners from $31.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Finally, Goldman Sachs Group raised shares of Focus Financial Partners from a “neutral” rating to a “buy” rating and increased their target price for the company from $24.00 to $36.00 in a research report on Tuesday, June 30th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $37.67.

Shares of NASDAQ:FOCS opened at $31.32 on Friday. Focus Financial Partners has a 52 week low of $12.17 and a 52 week high of $40.99. The company’s 50 day moving average is $35.75 and its two-hundred day moving average is $28.69. The company has a current ratio of 2.57, a quick ratio of 2.57 and a debt-to-equity ratio of 1.82. The company has a market cap of $2.20 billion, a PE ratio of 11.96, a P/E/G ratio of 0.89 and a beta of 1.39.

Focus Financial Partners (NASDAQ:FOCS) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.09. Focus Financial Partners had a net margin of 0.92% and a return on equity of 24.16%. The company had revenue of $313.10 million for the quarter, compared to the consensus estimate of $301.46 million. During the same period in the prior year, the firm posted $0.55 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts expect that Focus Financial Partners will post 2.56 EPS for the current year.

In other news, CFO James Shanahan sold 177,979 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $31.05, for a total value of $5,526,247.95. Following the completion of the sale, the chief financial officer now owns 177,979 shares in the company, valued at approximately $5,526,247.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Leonard R. Chang sold 186,783 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $31.05, for a total transaction of $5,799,612.15. Following the completion of the sale, the insider now owns 186,783 shares of the company’s stock, valued at approximately $5,799,612.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,293,876 shares of company stock valued at $40,174,850. 0.12% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its stake in shares of Focus Financial Partners by 0.6% in the 1st quarter. Invesco Ltd. now owns 406,058 shares of the company’s stock worth $9,343,000 after acquiring an additional 2,471 shares during the period. Deutsche Bank AG increased its holdings in shares of Focus Financial Partners by 2,327.2% in the 1st quarter. Deutsche Bank AG now owns 490,244 shares of the company’s stock valued at $11,280,000 after purchasing an additional 470,046 shares in the last quarter. Skyline Asset Management LP increased its holdings in shares of Focus Financial Partners by 2.4% in the 2nd quarter. Skyline Asset Management LP now owns 242,700 shares of the company’s stock valued at $8,021,000 after purchasing an additional 5,600 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Focus Financial Partners in the 1st quarter valued at about $1,381,000. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of Focus Financial Partners by 94.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,313 shares of the company’s stock valued at $237,000 after purchasing an additional 5,021 shares in the last quarter. Institutional investors own 84.93% 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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Analyst Recommendations for Focus Financial Partners (NASDAQ:FOCS)

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