Focus Financial Partners (NASDAQ:FOCS) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Focus Financial Partners (NASDAQ:FOCS) from a buy rating to a hold rating in a research note released on Wednesday morning, Zacks.com reports.

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. “

Other analysts also recently issued research reports about the stock. SunTrust Banks cut their price objective on shares of Focus Financial Partners and set a hold rating for the company in a report on Thursday, June 27th. Oppenheimer assumed coverage on shares of Focus Financial Partners in a report on Monday, April 8th. They issued an outperform rating and a $48.00 price objective for the company. Finally, Bank of America set a $20.00 price objective on shares of Fiat Chrysler Automobiles and gave the company a hold rating in a report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $39.36.

FOCS opened at $29.25 on Wednesday. Focus Financial Partners has a twelve month low of $22.61 and a twelve month high of $49.51. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.73 and a current ratio of 2.73. The stock’s 50-day moving average is $28.03. The firm has a market cap of $1.94 billion and a P/E ratio of 22.96.

Focus Financial Partners (NASDAQ:FOCS) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. The firm had revenue of $259.90 million during the quarter, compared to the consensus estimate of $258.97 million. Focus Financial Partners had a negative net margin of 3.12% and a positive return on equity of 21.17%. The company’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS. As a group, sell-side analysts expect that Focus Financial Partners will post 1.94 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of the company. Macquarie Group Ltd. grew its stake in shares of Focus Financial Partners by 2.7% in the 4th quarter. Macquarie Group Ltd. now owns 17,381 shares of the company’s stock valued at $458,000 after buying an additional 452 shares during the period. Northern Trust Corp grew its stake in shares of Focus Financial Partners by 0.5% in the 4th quarter. Northern Trust Corp now owns 233,703 shares of the company’s stock valued at $6,154,000 after buying an additional 1,181 shares during the period. Bank of New York Mellon Corp grew its stake 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 valued at $2,029,000 after buying an additional 2,010 shares during the period. Metropolitan Life Insurance Co NY grew its stake in shares of Focus Financial Partners by 43.1% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 8,372 shares of the company’s stock valued at $298,000 after buying an additional 2,522 shares during the period. Finally, Metropolitan Life Insurance Co. NY grew its stake in shares of Focus Financial Partners by 246.6% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,850 shares of the company’s stock valued at $154,000 after buying an additional 4,162 shares during the period. 79.61% of the stock is owned by institutional investors and hedge funds.

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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