Focus Financial Partners (NASDAQ:FOCS) Downgraded to Sell at Zacks Investment Research
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 research analysts also recently issued reports on the stock. SunTrust Banks decreased their price target on shares of Focus Financial Partners and set a hold rating for the company in a research note on Thursday, June 27th. Bank of America set a $20.00 price target on shares of Fiat Chrysler Automobiles and gave the stock a hold rating in a research note on Thursday, June 6th. Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners from a market perform rating to an outperform rating and lifted their price target for the stock from $35.00 to $35.50 in a research note on Friday, July 12th. Finally, Oppenheimer assumed coverage on shares of Focus Financial Partners in a research note on Monday, April 8th. They issued an outperform rating and a $48.00 price target for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Focus Financial Partners has a consensus rating of Hold and an average target price of $39.36.
Focus Financial Partners (NASDAQ:FOCS) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $259.90 million during the quarter, compared to analyst estimates of $258.97 million. During the same quarter last year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 32.5% compared to the same quarter last year. As a group, analysts forecast that Focus Financial Partners will post 1.96 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. TrinityPoint Wealth LLC purchased a new position in Focus Financial Partners in the first quarter worth approximately $203,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Focus Financial Partners by 246.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,850 shares of the company’s stock worth $154,000 after buying an additional 4,162 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Focus Financial Partners by 1,117.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,282 shares of the company’s stock worth $224,000 after buying an additional 5,766 shares during the last quarter. Edge Capital Group LLC lifted its position in shares of Focus Financial Partners by 31.7% during the 2nd quarter. Edge Capital Group LLC now owns 8,300 shares of the company’s stock worth $227,000 after buying an additional 2,000 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY lifted its position in shares of Focus Financial Partners by 43.1% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 8,372 shares of the company’s stock worth $298,000 after buying an additional 2,522 shares during the last quarter. Institutional investors own 79.68% 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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