Compass Diversified Holdings (CODI) Downgraded to “Strong Sell” at Zacks Investment Research
Compass Diversified Holdings (NYSE:CODI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “COMPASS DIVERSIFIED was formed to acquire and manage a group of middle market businesses that are headquartered in North America. CODI provides public investors with an opportunity to participate in the ownership and growth of companies which have historically been owned by private equity firms, wealthy individuals or families. CODI’s disciplined approach to its target market provides opportunities to methodically purchase attractive businesses at values that are accretive to its shareholders. For sellers of businesses, CODI’s unique structure allows CODI to acquire businesses efficiently with no financing contingencies and, following acquisition, to provide its companies with substantial access to growth capital. “
Several other equities research analysts also recently commented on the stock. BidaskClub raised shares of Compass Diversified Holdings from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered shares of Compass Diversified Holdings from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 target price on shares of Compass Diversified Holdings in a research note on Friday, July 14th. Finally, TheStreet upgraded shares of Compass Diversified Holdings from a “c+” rating to a “b” rating in a research note on Friday, July 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. Compass Diversified Holdings currently has a consensus rating of “Hold” and an average price target of $19.50.
Shares of Compass Diversified Holdings (NYSE CODI) remained flat at $17.85 on Tuesday. The company had a trading volume of 200,904 shares. The company’s market cap is $1.07 billion. Compass Diversified Holdings has a one year low of $15.90 and a one year high of $19.50. The firm’s 50 day moving average is $17.18 and its 200 day moving average is $16.93.
Compass Diversified Holdings (NYSE:CODI) last posted its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.53) earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.90). The firm had revenue of $307.38 million for the quarter, compared to the consensus estimate of $302.86 million. Compass Diversified Holdings had a return on equity of 6.42% and a net margin of 2.20%. The firm’s revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. Equities research analysts expect that Compass Diversified Holdings will post $1.60 EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada raised its stake in shares of Compass Diversified Holdings by 2.4% during the 2nd quarter. Royal Bank of Canada now owns 8,687,327 shares of the financial services provider’s stock valued at $151,591,000 after purchasing an additional 205,723 shares during the period. American Century Companies Inc. grew its holdings in Compass Diversified Holdings by 8.4% during the 2nd quarter. American Century Companies Inc. now owns 2,200,591 shares of the financial services provider’s stock valued at $38,400,000 after buying an additional 170,788 shares in the last quarter. Northern Trust Corp grew its holdings in Compass Diversified Holdings by 1.4% during the 2nd quarter. Northern Trust Corp now owns 817,674 shares of the financial services provider’s stock valued at $14,268,000 after buying an additional 11,519 shares in the last quarter. Morgan Stanley grew its holdings in Compass Diversified Holdings by 1.5% during the 1st quarter. Morgan Stanley now owns 483,861 shares of the financial services provider’s stock valued at $8,033,000 after buying an additional 7,296 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of Compass Diversified Holdings by 125.0% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 288,017 shares of the financial services provider’s stock valued at $4,781,000 after buying an additional 160,000 shares during the period. Institutional investors own 33.17% of the company’s stock.
About Compass Diversified Holdings
Compass Diversified Holdings (the Trust) and Compass Group Diversified Holdings, LLC, (the Company), acquires and manages small and middle-market businesses. The Company operates through segments include Acquisition Corp. (5.11 Tactical), The Ergo Baby Carrier, Inc (Ergobaby), Liberty Safe and Security Products, Inc (Liberty), Fresh Hemp Foods Ltd.
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