Zacks Investment Research upgraded shares of Compass Diversified (NYSE:CODI) from a strong sell rating to a hold rating in a research report released on Monday morning.
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. “
Separately, TheStreet raised Compass Diversified from a c+ rating to a b- rating in a research report on Friday, June 29th.
Compass Diversified stock opened at $17.12 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.68 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $1.09 billion, a PE ratio of 31.84 and a beta of 0.48. Compass Diversified has a 1-year low of $14.60 and a 1-year high of $18.35.
Compass Diversified (NYSE:CODI) last posted its quarterly earnings data on Wednesday, August 1st. The financial services provider reported ($0.12) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.57). The business had revenue of $429.76 million during the quarter, compared to analyst estimates of $400.86 million. Compass Diversified had a return on equity of 2.47% and a net margin of 3.45%. As a group, equities research analysts expect that Compass Diversified will post 1.89 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 25th. Investors of record on Thursday, October 18th will be paid a $0.36 dividend. The ex-dividend date is Wednesday, October 17th. This represents a $1.44 dividend on an annualized basis and a yield of 8.41%.
A number of hedge funds have recently modified their holdings of the stock. Mckinley Capital Management LLC Delaware raised its stake in Compass Diversified by 4.7% in the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 71,506 shares of the financial services provider’s stock worth $1,237,000 after acquiring an additional 3,224 shares during the last quarter. Wasatch Advisors Inc. raised its stake in Compass Diversified by 2.4% in the 2nd quarter. Wasatch Advisors Inc. now owns 171,344 shares of the financial services provider’s stock worth $2,964,000 after acquiring an additional 4,003 shares during the last quarter. HL Financial Services LLC raised its stake in Compass Diversified by 21.8% in the 2nd quarter. HL Financial Services LLC now owns 26,201 shares of the financial services provider’s stock worth $453,000 after acquiring an additional 4,684 shares during the last quarter. Gilman Hill Asset Management LLC raised its stake in Compass Diversified by 2.5% in the 2nd quarter. Gilman Hill Asset Management LLC now owns 234,605 shares of the financial services provider’s stock worth $4,059,000 after acquiring an additional 5,719 shares during the last quarter. Finally, Poehling Capital Management LLC purchased a new position in Compass Diversified in the 2nd quarter worth $104,000. Institutional investors own 33.33% of the company’s stock.
About Compass Diversified
Compass Diversified Holdings LLC is a private equity firm specializing in acquisitions, buyouts, industry consolidation, recapitalization, and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, safety & security, electronic components, food, foodservice.
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