Zacks Investment Research Downgrades Focus Financial Partners (NASDAQ:FOCS) to Hold

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Focus Financial Partners (NASDAQ:FOCS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

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 analysts have also recently commented on the company. SunTrust Banks set a $26.00 price target on Focus Financial Partners and gave the stock a “hold” rating in a research report on Friday, August 9th. 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 research report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $35.00 to $35.50 in a research report on Friday, July 12th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $34.75.

Focus Financial Partners stock traded down $0.21 during mid-day trading on Tuesday, reaching $22.38. 184,968 shares of the stock traded hands, compared to its average volume of 246,457. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.62 and a quick ratio of 2.62. The business’s 50-day moving average is $22.54 and its 200-day moving average is $27.73. The stock has a market capitalization of $1.57 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.49 and a beta of 2.01. Focus Financial Partners has a 12-month low of $19.05 and a 12-month high of $44.39.

Focus Financial Partners (NASDAQ:FOCS) last issued 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. The business had revenue of $301.55 million during the quarter, compared to analysts’ expectations of $292.29 million. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.40 earnings per share. Equities analysts anticipate that Focus Financial Partners will post 1.97 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kavar Capital Partners LLC purchased a new stake in shares of Focus Financial Partners during the second quarter worth about $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of Focus Financial Partners during the second quarter worth about $31,000. Quantamental Technologies LLC grew its position in shares of 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 purchasing an additional 900 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Focus Financial Partners during the second quarter worth about $38,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Focus Financial Partners during the second quarter worth about $40,000. Institutional investors and hedge funds own 78.76% 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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