Focus Financial Partners (NASDAQ:FOCS) Stock Rating Reaffirmed by Bank of America

Focus Financial Partners (NASDAQ:FOCS)‘s stock had its “neutral” rating reiterated by analysts at Bank of America in a research report issued to clients and investors on Thursday, June 6th, FirstToMarketsRatingsTable reports. They currently have a $31.00 price objective on the stock, down from their prior price objective of $36.00. Bank of America‘s target price points to a potential upside of 11.11% from the stock’s current price.

A number of other research firms also recently weighed in on FOCS. BMO Capital Markets increased their price target on Focus Financial Partners from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded shares of Focus Financial Partners from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, March 1st. SunTrust Banks upped their price objective on shares of Focus Financial Partners to $42.00 and gave the company a “hold” rating in a research report on Tuesday, March 5th. Finally, Oppenheimer began coverage on shares of Focus Financial Partners in a research report on Monday, April 8th. They issued an “outperform” rating and a $48.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.00.

NASDAQ:FOCS traded up $0.59 during trading hours on Thursday, hitting $27.90. 326,607 shares of the stock were exchanged, compared to its average volume of 232,009. The company’s 50 day moving average is $29.15. 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 current ratio of 2.73 and a quick ratio of 2.73. The firm has a market capitalization of $1.89 billion and a P/E ratio of 28.18.

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

Several hedge funds and other institutional investors have recently made changes to their positions in FOCS. TrinityPoint Wealth LLC acquired a new stake in Focus Financial Partners during the first quarter worth approximately $203,000. Metropolitan Life Insurance Co. NY lifted its position in Focus Financial Partners by 246.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,850 shares of the company’s stock worth $154,000 after acquiring an additional 4,162 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Focus Financial Partners by 1,117.4% during the first quarter. BNP Paribas Arbitrage SA now owns 6,282 shares of the company’s stock worth $224,000 after acquiring an additional 5,766 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its position in Focus Financial Partners by 43.1% during the first quarter. Metropolitan Life Insurance Co NY now owns 8,372 shares of the company’s stock worth $298,000 after acquiring an additional 2,522 shares during the last quarter. Finally, LLBH Private Wealth Management LLC acquired a new stake in Focus Financial Partners during the first quarter worth approximately $327,000. Institutional investors own 79.61% 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.

Read More: Hold Rating

Analyst Recommendations for Focus Financial Partners (NASDAQ:FOCS)

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