Zacks Investment Research upgraded shares of Focus Financial Partners (NASDAQ:FOCS) from a hold rating to a buy rating in a research report sent to investors on Tuesday, Zacks.com reports. They currently have $24.00 price target on the stock.
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. “
Several other research analysts also recently commented on the company. SunTrust Banks set a $26.00 target price on Focus Financial Partners and gave the stock a hold rating in a research note on Friday, August 9th. Keefe, Bruyette & Woods upgraded Focus Financial Partners from a market perform rating to an outperform rating and lifted their target price for the stock from $35.00 to $35.50 in a research note on Friday, July 12th. Finally, Bank of America reduced their target price on Focus Financial Partners from $31.00 to $29.00 and set a neutral rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $34.75.
Focus Financial Partners (NASDAQ:FOCS) last issued its earnings results on Thursday, August 8th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $301.55 million during the quarter, compared to the consensus estimate of $292.29 million. During the same period in the previous year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. Analysts predict that Focus Financial Partners will post 1.96 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FOCS. TimesSquare Capital Management LLC increased its position in Focus Financial Partners by 53.1% in the second quarter. TimesSquare Capital Management LLC now owns 1,930,645 shares of the company’s stock worth $52,726,000 after buying an additional 669,645 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Focus Financial Partners by 29.4% in the second quarter. JPMorgan Chase & Co. now owns 2,127,067 shares of the company’s stock worth $58,495,000 after buying an additional 483,780 shares during the period. FMR LLC increased its holdings in shares of Focus Financial Partners by 29.6% in the first 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. Vanguard Group Inc. increased its holdings in shares of Focus Financial Partners by 14.8% in the second quarter. Vanguard Group Inc. now owns 2,715,098 shares of the company’s stock worth $74,149,000 after buying an additional 350,511 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Focus Financial Partners by 3,557.2% in the second quarter. Invesco Ltd. now owns 287,710 shares of the company’s stock worth $7,858,000 after buying an additional 279,843 shares during the period. Institutional investors and hedge funds own 78.62% 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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