Focus Financial Partners Inc. (NASDAQ:FOCS)’s stock price hit a new 52-week high during mid-day 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 trading hands. The stock had previously closed at $58.89.
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Focus Financial Partners from a “hold” rating to a “sell” rating in a research report on Monday. TheStreet upgraded Focus Financial Partners from a “d” rating to a “c” rating in a research note on Thursday, August 19th. Finally, Royal Bank of Canada boosted their price target on Focus Financial Partners from $61.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, August 6th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $59.57.
Several institutional investors and hedge funds have recently modified their holdings of FOCS. FFT Wealth Management LLC purchased a new stake in shares of Focus Financial Partners in the second quarter worth about $27,000. Sandy Spring Bank purchased a new stake in shares of Focus Financial Partners in the second quarter worth about $49,000. Wolverine Asset Management LLC purchased a new stake in shares of Focus Financial Partners in the first quarter worth about $62,000. Advisor Group Holdings Inc. boosted its stake in shares of Focus Financial Partners by 68.7% in 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 stake in shares of Focus Financial Partners in the second quarter worth about $109,000. Hedge funds and other institutional investors own 88.24% of the company’s stock.
Focus Financial Partners (NASDAQ:FOCS) last issued its earnings results on Thursday, August 5th. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $413.41 million. During the same quarter in the previous year, the company earned $0.71 EPS. The firm’s quarterly revenue was up 35.8% compared to the same quarter last year. On average, research analysts predict that Focus Financial Partners Inc. will post 3.57 earnings per share for the current fiscal year.
About Focus Financial Partners (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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