Zacks: Brokerages Set $37.00 Target Price for Focus Financial Partners Inc (FOCS)

Focus Financial Partners Inc (NASDAQ:FOCS) has received a consensus broker rating score of 2.67 (Hold) from the three brokers that cover the company, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating and one has assigned a buy rating to the company.

Brokerages have set a 12-month consensus target price of $37.00 for the company and are expecting that the company will post $0.51 earnings per share for the current quarter, according to Zacks. Zacks has also given Focus Financial Partners an industry rank of 192 out of 256 based on the ratings given to its competitors.

A number of brokerages have recently issued reports on FOCS. BMO Capital Markets increased their price target on shares of Focus Financial Partners to $57.00 and gave the company an “outperform” rating in a report on Monday, October 1st. Zacks Investment Research upgraded shares of Focus Financial Partners from a “hold” rating to a “strong-buy” rating and set a $48.00 price target for the company in a report on Monday, October 22nd.

Institutional investors and hedge funds have recently made changes to their positions in the company. Brown Advisory Inc. purchased a new position in shares of Focus Financial Partners in the 3rd quarter valued at about $213,000. Strs Ohio purchased a new position in Focus Financial Partners during the 3rd quarter valued at about $256,000. Janus Henderson Group PLC purchased a new position in Focus Financial Partners during the 3rd quarter valued at about $278,000. Grandeur Peak Global Advisors LLC purchased a new position in Focus Financial Partners during the 3rd quarter valued at about $368,000. Finally, Citadel Advisors LLC purchased a new position in Focus Financial Partners during the 3rd quarter valued at about $373,000. Institutional investors and hedge funds own 80.66% of the company’s stock.

Shares of FOCS opened at $25.31 on Friday. The company has a quick ratio of 2.56, a current ratio of 2.56 and a debt-to-equity ratio of 1.23. Focus Financial Partners has a 52-week low of $22.61 and a 52-week high of $49.51.

Focus Financial Partners (NASDAQ:FOCS) last announced its quarterly earnings results on Tuesday, November 13th. The company reported $0.46 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.46. The business had revenue of $235.70 million during the quarter, compared to the consensus estimate of $240.01 million. Focus Financial Partners had a negative net margin of 4.64% and a negative return on equity of 4.59%. The business’s revenue was up 30.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 EPS. As a group, equities analysts predict that Focus Financial Partners will post 1.16 EPS for the current year.

About Focus Financial Partners

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

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