Focus Financial Partners (NASDAQ:FOCS) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research note issued on Friday, Marketbeat.com reports. The firm presently has a $35.50 target price on the stock, up from their prior target price of $35.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 21.37% from the stock’s previous close.
Several other analysts have also recently issued reports on the company. SunTrust Banks cut their price objective on Focus Financial Partners and set a “hold” rating on the stock in a research note on Thursday, June 27th. Bank of America set a $20.00 price objective on Fiat Chrysler Automobiles and gave the company a “hold” rating in a research note on Thursday, June 6th. Oppenheimer initiated coverage on Focus Financial Partners in a research note on Monday, April 8th. They set an “outperform” rating and a $48.00 price objective on the stock. Finally, Zacks Investment Research cut ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Focus Financial Partners presently has an average rating of “Hold” and an average price target of $39.36.
Shares of NASDAQ FOCS opened at $29.25 on Friday. The company’s 50 day moving average price is $28.03. Focus Financial Partners has a 52-week low of $22.61 and a 52-week high of $49.51. The firm has a market capitalization of $2.03 billion and a PE ratio of 23.98. The company has a debt-to-equity ratio of 1.56, a current ratio of 2.73 and a quick ratio of 2.73.
Focus Financial Partners (NASDAQ:FOCS) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. Focus Financial Partners had a positive return on equity of 21.17% and a negative net margin of 3.12%. The firm had revenue of $259.90 million for the quarter, compared to analysts’ expectations of $258.97 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Focus Financial Partners’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, research analysts anticipate that Focus Financial Partners will post 1.94 EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of Focus Financial Partners by 29.6% during the 1st quarter. FMR LLC now owns 1,816,700 shares of the company’s stock worth $64,747,000 after purchasing an additional 414,500 shares during the period. Fairview Capital Investment Management LLC raised its position in shares of Focus Financial Partners by 0.9% during the 1st quarter. Fairview Capital Investment Management LLC now owns 1,757,769 shares of the company’s stock worth $62,646,000 after purchasing an additional 16,500 shares during the period. JPMorgan Chase & Co. raised its position in shares of Focus Financial Partners by 8.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,643,287 shares of the company’s stock worth $58,566,000 after purchasing an additional 128,178 shares during the period. BlackRock Inc. raised its position in shares of Focus Financial Partners by 6.1% during the 4th quarter. BlackRock Inc. now owns 1,320,186 shares of the company’s stock worth $34,763,000 after purchasing an additional 76,469 shares during the period. Finally, TimesSquare Capital Management LLC raised its position in shares of Focus Financial Partners by 41.5% during the 1st quarter. TimesSquare Capital Management LLC now owns 1,261,000 shares of the company’s stock worth $44,942,000 after purchasing an additional 369,700 shares during the period. Institutional investors and hedge funds own 79.61% of the company’s stock.
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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