Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners (NASDAQ:FOCS) from a market perform rating to an outperform rating in a research report released on Friday morning, BenzingaRatingsTable reports. The brokerage currently has $35.50 price objective on the stock, up from their prior price objective of $35.00.
FOCS has been the topic of several other reports. Bank of America set a $20.00 target price on Fiat Chrysler Automobiles and gave the stock a hold rating in a report on Thursday, June 6th. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a report on Wednesday, July 10th. SunTrust Banks dropped their target price on Focus Financial Partners and set a hold rating on the stock in a report on Thursday, June 27th. Finally, Oppenheimer initiated coverage on Focus Financial Partners in a report on Monday, April 8th. They set an outperform rating and a $48.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Focus Financial Partners currently has a consensus rating of Hold and an average price target of $39.36.
Shares of FOCS stock opened at $28.76 on Friday. The firm has a market capitalization of $2.03 billion and a price-to-earnings ratio of 23.98. Focus Financial Partners has a fifty-two week low of $22.61 and a fifty-two week high of $49.51. The company has a 50-day moving average price of $28.00. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 1.56.
Focus Financial Partners (NASDAQ:FOCS) last posted its earnings results on Thursday, May 9th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $259.90 million for the quarter, compared to analyst estimates of $258.97 million. Focus Financial Partners had a positive return on equity of 21.17% and a negative net margin of 3.12%. Focus Financial Partners’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share. On average, equities analysts expect that Focus Financial Partners will post 1.94 earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Hoylecohen LLC acquired a new stake in Focus Financial Partners in the first quarter valued at approximately $2,942,000. Merriman Wealth Management LLC purchased a new position in shares of Focus Financial Partners in the first quarter valued at approximately $896,000. Winslow Asset Management Inc. lifted its position in shares of Focus Financial Partners by 104.2% in the first quarter. Winslow Asset Management Inc. now owns 205,618 shares of the company’s stock valued at $7,328,000 after acquiring an additional 104,935 shares in the last quarter. California Public Employees Retirement System purchased a new position in shares of Focus Financial Partners in the first quarter valued at approximately $3,208,000. Finally, LVW Advisors LLC purchased a new position in shares of Focus Financial Partners in the first quarter valued at approximately $1,237,000. 79.66% of the stock is currently owned by institutional investors.
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.
Featured Story: Straddles
Receive News & Ratings for Focus Financial Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Focus Financial Partners and related companies with MarketBeat.com's FREE daily email newsletter.