Focus Financial Partners (NASDAQ:FOCS) upgraded by Zacks Investment Research to hold

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Zacks Investment Research has improved the shares of Focus Financial Partners (NASDAQ: FOCS – Get Rating) from a sell rating to a hold rating in a report released Friday morning, Zacks.com reports.

According to Zacks, “Focus Financial Partners Inc. provides wealth management services. The Company provides financial planning, asset allocation, asset management and tax preparation services. Focus Financial Partners Inc. is based in New York, USA. “

Several other analysts also commented on the FOCS. Goldman Sachs Group lowered its price target on Focus Financial Partners from $75.00 to $65.00 and set a buy rating on the stock in a Thursday, March 31 report. Raymond James lowered its price target on Focus Financial Partners from $66.00 to $60.00 and set an outperformance rating for the stock in a Tuesday, April 5 report. Finally, Truist Financial lowered its price target on Focus Financial Partners from $78.00 to $65.00 in a Friday, May 6 report. One financial analyst gave the stock a hold rating and six gave the stock a buy rating. According to data from MarketBeat.com, the company currently has a consensus buy rating and a consensus target price of $69.71.

Shares of NASDAQ:FOCS traded at $1.56 during Friday’s trading, hitting $36.22. The stock recorded trading volume of 549,325 shares, compared to an average trading volume of 398,916. Focus Financial Partners has a 12-month low of $33.20 and a 12-month high of $69.13. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 59.38, a growth price-to-earnings ratio of 0.51 and a beta of 1.25. The company has a quick ratio of 5.21, a current ratio of 5.21 and a debt ratio of 2.06. The stock has a 50-day simple moving average of $42.60 and a 200-day simple moving average of $52.75.

Focus Financial Partners (NASDAQ:FOCS – Get Rating) last released its results on Thursday, May 5. The company reported EPS of $1.16 for the quarter, beating the consensus estimate of $1.09 by $0.07. The company posted revenue of $536.57 million for the quarter, versus analyst estimates of $515.65 million. Focus Financial Partners achieved a return on equity of 25.03% and a net margin of 2.02%. Focus Financial Partners’ revenues for the quarter increased by 36.1% compared to the same quarter last year. During the same period last year, the company earned earnings per share of $0.83. As a group, sell-side analysts expect Focus Financial Partners to post earnings per share of 4.3 for the current year.

A number of institutional investors and hedge funds have recently changed their holdings in the company. The Florida Retirement System State Board of Directors increased its holdings in Focus Financial Partners by 2.3% in the third quarter. The Florida Retirement System State Board of Directors now owns 8,737 shares of the company valued at $458,000 after purchasing an additional 200 shares during the period. Knights of Columbus Asset Advisors LLC increased its stake in shares of Focus Financial Partners by 0.5% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 47,003 shares of the company worth $2,462,000 after acquiring 250 additional shares in the last quarter. Advisor Group Holdings Inc. increased its stake in shares of Focus Financial Partners by 12.1% in the third quarter. Advisor Group Holdings Inc. now owns 2,353 shares of the company worth $123,000 after acquiring 254 additional shares in the last quarter. Cim LLC increased its stake in shares of Focus Financial Partners by 7.1% in the fourth quarter. Cim LLC now owns 4,938 shares of the company worth $237,000 after acquiring 328 additional shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Focus Financial Partners shares by 17.4% in the first quarter. Great West Life Assurance Co. Can now owns 2,697 shares of the company worth $131,000 after acquiring 399 additional shares in the last quarter. 92.60% of the shares are currently held by institutional investors.

Focus Financial Partners Company Profile (Get an evaluation)

Focus Financial Partners Inc provides wealth management services primarily to ultra-high and high net worth individuals, families and businesses. Its wealth management services include investment advice, financial and tax planning, counseling, tax return preparation, family office services and other services.

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