Focus Financial Partners (NASDAQ:FOCS) Raised to “Outperform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners (NASDAQ:FOCS) from a market perform rating to an outperform rating in a research report report published on Friday morning, BenzingaRatingsTable reports. They currently have $35.50 target price on the stock, up from their previous target price of $35.00.

Several other equities analysts also recently weighed in on FOCS. SunTrust Banks cut their target price on Focus Financial Partners and set a hold rating on the stock in a research report 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 report on Thursday, June 6th. Zacks Investment Research downgraded ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Finally, Oppenheimer began coverage on Focus Financial Partners in a research report on Monday, April 8th. They issued an outperform rating and a $48.00 price objective on the stock. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $39.36.

NASDAQ FOCS opened at $28.76 on Friday. The company has a market cap of $2.03 billion and a P/E ratio of 23.98. The company has a current ratio of 2.73, a quick ratio of 2.73 and a debt-to-equity ratio of 1.56. The firm’s 50 day moving average is $28.00. Focus Financial Partners has a fifty-two week low of $22.61 and a fifty-two week high of $49.51.

Focus Financial Partners (NASDAQ:FOCS) last released its earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.06. The firm had revenue of $259.90 million for the quarter, compared to the consensus estimate of $258.97 million. Focus Financial Partners had a positive return on equity of 21.17% and a negative net margin of 3.12%. The company’s revenue for the quarter was up 32.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS. On average, research analysts expect that Focus Financial Partners will post 1.94 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in FOCS. Morgan Stanley purchased a new stake in shares of Focus Financial Partners in the 3rd quarter worth $1,463,000. Rhumbline Advisers lifted its holdings in shares of Focus Financial Partners by 69.0% in the 4th quarter. Rhumbline Advisers now owns 23,473 shares of the company’s stock worth $618,000 after buying an additional 9,587 shares during the period. New York State Common Retirement Fund lifted its holdings in shares of Focus Financial Partners by 188.7% in the 4th quarter. New York State Common Retirement Fund now owns 32,127 shares of the company’s stock worth $846,000 after buying an additional 21,000 shares during the period. BlackRock Inc. lifted its holdings in shares of Focus Financial Partners by 6.1% in the 4th quarter. BlackRock Inc. now owns 1,320,186 shares of the company’s stock worth $34,763,000 after buying an additional 76,469 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Focus Financial Partners by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 77,071 shares of the company’s stock worth $2,029,000 after buying an additional 2,010 shares during the period. 79.66% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Focus Financial Partners (NASDAQ:FOCS)

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