Focus Financial Partners (NASDAQ:FOCS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, 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 equities research analysts have also issued reports about the stock. SunTrust Banks set a $26.00 target price on shares of Focus Financial Partners and gave the company a “hold” rating in a research report on Friday, August 9th. Bank of America decreased their price target on shares of Focus Financial Partners from $31.00 to $29.00 and set a “neutral” rating on the stock in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods upgraded shares of Focus Financial Partners from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $35.00 to $35.50 in a research report on Friday, July 12th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $34.58.

Shares of NASDAQ:FOCS traded up $1.22 on Tuesday, hitting $22.34. The company’s stock had a trading volume of 639,014 shares, compared to its average volume of 233,574. The company has a market capitalization of $1.55 billion, a PE ratio of 22.57, a PEG ratio of 0.49 and a beta of 1.95. The company has a debt-to-equity ratio of 1.59, a current ratio of 2.62 and a quick ratio of 2.62. The company has a 50-day simple moving average of $23.35 and a 200 day simple moving average of $30.39. Focus Financial Partners has a 1 year low of $19.05 and a 1 year high of $49.25.

Focus Financial Partners (NASDAQ:FOCS) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.06. The company had revenue of $301.55 million during the quarter, compared to analyst estimates of $292.29 million. Focus Financial Partners had a positive return on equity of 12.96% and a negative net margin of 2.10%. Focus Financial Partners’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. On average, equities research analysts expect that Focus Financial Partners will post 1.95 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in FOCS. Quantamental Technologies LLC lifted its position in Focus Financial Partners by 225.0% in the 2nd quarter. Quantamental Technologies LLC now owns 1,300 shares of the company’s stock worth $36,000 after buying an additional 900 shares during the last quarter. Kavar Capital Partners LLC bought a new position in shares of Focus Financial Partners during the second quarter valued at about $27,000. Point72 Hong Kong Ltd purchased a new position in shares of Focus Financial Partners in the second quarter worth about $31,000. Carnick & Kubik Group LLC increased its holdings in shares of Focus Financial Partners by 10.0% in the second quarter. Carnick & Kubik Group LLC now owns 14,358 shares of the company’s stock worth $392,000 after buying an additional 1,300 shares during the period. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Focus Financial Partners in the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 79.03% of the company’s stock.

About Focus Financial Partners

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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