Focus Financial Partners (NASDAQ:FOCS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Focus Financial Partners (NASDAQ:FOCS) from a buy rating to a hold rating in a research report released on Wednesday, 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 stock. Oppenheimer initiated coverage on shares of Focus Financial Partners in a research report on Monday, April 8th. They set an outperform rating and a $48.00 price target on the stock. SunTrust Banks cut their price target on shares of Focus Financial Partners and set a hold rating on the stock in a research report on Thursday, June 27th. Finally, Bank of America set a $20.00 price target on shares of Fiat Chrysler Automobiles and gave the company a hold rating in a research report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $39.36.

Shares of Focus Financial Partners stock opened at $29.25 on Wednesday. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 1.56. Focus Financial Partners has a twelve month low of $22.61 and a twelve month high of $49.51. The company has a market capitalization of $1.94 billion and a PE ratio of 29.55. The business has a fifty day simple moving average of $28.03.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Focus Financial Partners had a negative net margin of 3.12% and a positive return on equity of 21.17%. The company had revenue of $259.90 million for the quarter, compared to analysts’ expectations of $258.97 million. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Focus Financial Partners’s revenue for the quarter was up 32.5% on a year-over-year basis. As a group, equities research analysts anticipate that Focus Financial Partners will post 1.94 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY boosted its position in Focus Financial Partners by 246.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,850 shares of the company’s stock valued at $154,000 after acquiring an additional 4,162 shares during the last quarter. TrinityPoint Wealth LLC bought a new stake in Focus Financial Partners during the first quarter valued at $203,000. BNP Paribas Arbitrage SA raised its holdings in shares of Focus Financial Partners by 1,117.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,282 shares of the company’s stock valued at $224,000 after purchasing an additional 5,766 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Focus Financial Partners during the fourth quarter valued at about $273,000. Finally, Metropolitan Life Insurance Co NY raised its holdings in shares of Focus Financial Partners by 43.1% during the first quarter. Metropolitan Life Insurance Co NY now owns 8,372 shares of the company’s stock valued at $298,000 after purchasing an additional 2,522 shares during the period. 79.61% of the stock is currently owned by institutional investors and hedge funds.

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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