Raymond James Increases Focus Financial Partners (NASDAQ:FOCS) Price Target to $36.00

Focus Financial Partners (NASDAQ:FOCS) had its price target upped by Raymond James from $33.00 to $36.00 in a report issued on Tuesday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the stock.

FOCS has been the topic of a number of other reports. Citigroup downgraded shares of Focus Financial Partners from a neutral rating to an underperform rating in a research note on Thursday, March 12th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on shares of Focus Financial Partners from $25.00 to $28.00 and gave the company an outperform rating in a report on Friday, May 8th. SunTrust Banks upgraded shares of Focus Financial Partners from a hold rating to a buy rating and dropped their price objective for the company from $35.00 to $30.00 in a report on Thursday, March 12th. Keefe, Bruyette & Woods raised their price objective on shares of Focus Financial Partners from $28.00 to $32.00 and gave the company an outperform rating in a report on Friday, May 8th. Finally, Goldman Sachs Group upgraded shares of Focus Financial Partners from a neutral rating to a buy rating and raised their price objective for the company from $24.00 to $36.00 in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $33.82.

FOCS opened at $33.57 on Tuesday. The company’s 50 day moving average is $29.31 and its 200-day moving average is $26.29. Focus Financial Partners has a 1-year low of $12.17 and a 1-year high of $34.96. The company has a current ratio of 5.70, a quick ratio of 5.70 and a debt-to-equity ratio of 2.09. The company has a market cap of $2.36 billion, a P/E ratio of 145.96, a PEG ratio of 1.86 and a beta of 1.47.

Focus Financial Partners (NASDAQ:FOCS) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.07. Focus Financial Partners had a net margin of 0.81% and a return on equity of 22.77%. The company had revenue of $337.05 million for the quarter, compared to the consensus estimate of $323.59 million. During the same period last year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 29.7% compared to the same quarter last year. On average, equities analysts forecast that Focus Financial Partners will post 2.58 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. Great West Life Assurance Co. Can bought a new position in Focus Financial Partners during the 4th quarter worth approximately $51,000. Nisa Investment Advisors LLC bought a new position in Focus Financial Partners during the 1st quarter worth approximately $44,000. Victory Capital Management Inc. raised its holdings in Focus Financial Partners by 46.3% during the 4th quarter. Victory Capital Management Inc. now owns 4,379 shares of the company’s stock worth $129,000 after purchasing an additional 1,386 shares during the last quarter. Chevy Chase Trust Holdings Inc. bought a new position in Focus Financial Partners during the 4th quarter worth approximately $243,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Focus Financial Partners in the 1st quarter valued at $199,000. Hedge funds and other institutional investors own 84.72% 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.

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Analyst Recommendations for Focus Financial Partners (NASDAQ:FOCS)

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