Focus Financial Partners (NASDAQ:FOCS) Upgraded to “Buy” at Goldman Sachs Group

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Goldman Sachs Group upgraded shares of Focus Financial Partners (NASDAQ:FOCS) from a neutral rating to a buy rating in a research note released on Tuesday, BenzingaRatingsTable reports. The firm currently has $36.00 price objective on the stock, up from their previous price objective of $24.00.

A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of Focus Financial Partners from a buy rating to a hold rating in a research report on Friday, June 5th. Raymond James cut their target price on shares of Focus Financial Partners from $50.00 to $43.00 and set an outperform rating on the stock in a research report on Friday, March 13th. Zacks Investment Research upgraded shares of Focus Financial Partners from a hold rating to a buy rating and set a $30.00 target price on the stock in a research report on Friday, June 12th. SunTrust Banks upgraded shares of Focus Financial Partners from a hold rating to a buy rating and cut their target price for the company from $35.00 to $30.00 in a research report on Thursday, March 12th. Finally, Citigroup downgraded shares of Focus Financial Partners from a neutral rating to an underperform rating in a research report on Thursday, March 12th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $34.45.

Shares of NASDAQ FOCS opened at $30.18 on Tuesday. The firm’s 50-day simple moving average is $27.75 and its 200 day simple moving average is $26.13. The company has a market cap of $2.10 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The company has a quick ratio of 5.70, a current ratio of 5.70 and a debt-to-equity ratio of 2.09. Focus Financial Partners has a 12-month low of $12.17 and a 12-month high of $34.96.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.07. The business had revenue of $337.05 million for the quarter, compared to the consensus estimate of $323.59 million. Focus Financial Partners had a net margin of 0.81% and a return on equity of 22.77%. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities analysts expect that Focus Financial Partners will post 2.58 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Deutsche Bank AG increased its stake in Focus Financial Partners by 2,327.2% during the 1st quarter. Deutsche Bank AG now owns 490,244 shares of the company’s stock worth $11,280,000 after purchasing an additional 470,046 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in Focus Financial Partners during the 1st quarter worth approximately $1,381,000. BNP Paribas Arbitrage SA increased its stake in Focus Financial Partners by 94.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,313 shares of the company’s stock worth $237,000 after purchasing an additional 5,021 shares in the last quarter. Advantage Alpha Capital Partners LP increased its stake in Focus Financial Partners by 55.9% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 133,391 shares of the company’s stock worth $3,069,000 after purchasing an additional 47,853 shares in the last quarter. Finally, State Street Corp increased its stake in Focus Financial Partners by 2.7% during the 1st quarter. State Street Corp now owns 610,953 shares of the company’s stock worth $14,058,000 after purchasing an additional 15,785 shares in the last quarter. 84.72% of the stock is owned by institutional investors and hedge funds.

Focus Financial Partners Company Profile

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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