Focus Financial Partners (NASDAQ:FOCS) Downgraded by 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. “
FOCS has been the topic of several other reports. Bank of America cut their price objective on shares of Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a research report on Friday, August 9th. SunTrust Banks set a $26.00 target price on shares of Focus Financial Partners and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $35.00 to $35.50 in a research note on Friday, July 12th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Focus Financial Partners has an average rating of “Buy” and an average price target of $34.58.
Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.06. The firm had revenue of $301.55 million during the quarter, compared to the consensus estimate of $292.29 million. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. The company’s revenue was up 30.3% on a year-over-year basis. During the same period last year, the company earned $0.40 earnings per share. Equities research analysts anticipate that Focus Financial Partners will post 1.95 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. Kavar Capital Partners LLC purchased a new position in shares of Focus Financial Partners in the second quarter worth $27,000. Point72 Hong Kong Ltd purchased a new stake in shares of Focus Financial Partners during the second quarter valued at $31,000. Quantamental Technologies LLC boosted its position in shares of Focus Financial Partners by 225.0% during the second quarter. Quantamental Technologies LLC now owns 1,300 shares of the company’s stock valued at $36,000 after buying an additional 900 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in Focus Financial Partners in the 2nd quarter worth about $38,000. Finally, Tower Research Capital LLC TRC bought a new stake in Focus Financial Partners in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 79.03% 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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