Focus Financial Partners Inc. (NASDAQ:FOCS) shares reached a new 52-week high during trading on Thursday after Oppenheimer raised their price target on the stock from $64.00 to $71.00. Oppenheimer currently has an outperform rating on the stock. Focus Financial Partners traded as high as $60.00 and last traded at $59.44, with a volume of 3178 shares traded. The stock had previously closed at $58.89.
Several other research analysts have also commented on the company. Royal Bank of Canada raised their price target on Focus Financial Partners from $61.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, August 6th. Zacks Investment Research cut Focus Financial Partners from a “hold” rating to a “sell” rating in a research note on Monday. Finally, TheStreet upgraded Focus Financial Partners from a “d” rating to a “c” rating in a research note on Thursday, August 19th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Focus Financial Partners has an average rating of “Buy” and an average price target of $59.57.
Institutional investors and hedge funds have recently bought and sold shares of the company. FFT Wealth Management LLC acquired a new stake in shares of Focus Financial Partners during the second quarter worth about $27,000. Sandy Spring Bank acquired a new stake in shares of Focus Financial Partners during the second quarter worth about $49,000. Wolverine Asset Management LLC acquired a new stake in shares of Focus Financial Partners during the first quarter worth about $62,000. Advisor Group Holdings Inc. grew its holdings in shares of Focus Financial Partners by 68.7% during the second quarter. Advisor Group Holdings Inc. now owns 2,099 shares of the company’s stock worth $102,000 after buying an additional 855 shares during the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in shares of Focus Financial Partners during the second quarter worth about $109,000. Institutional investors and hedge funds own 88.24% of the company’s stock.
Focus Financial Partners (NASDAQ:FOCS) last released its quarterly earnings results on Thursday, August 5th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.11). Focus Financial Partners had a return on equity of 26.13% and a net margin of 0.49%. The company had revenue of $425.36 million for the quarter, compared to analysts’ expectations of $413.41 million. During the same period in the prior year, the business earned $0.71 EPS. The business’s quarterly revenue was up 35.8% compared to the same quarter last year. Equities research analysts forecast that Focus Financial Partners Inc. will post 3.57 earnings per share for the current fiscal year.
Focus Financial Partners Company Profile (NASDAQ:FOCS)
Focus Financial Partners, Inc is a holding company, which engages in the provision of wealth management services. It also offers practices, resources, and continuity planning for its partner firms who serve individuals, families, employers, and institutions with comprehensive wealth management services.
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