Compass Diversified (NYSE:CODI) Stock Rating Lowered by Wall Street Zen

Key Points

• Compass Diversified has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, reflecting a shift in analysts' confidence in the stock.
• Jefferies Financial Group and B. Riley also downgraded the stock recently, with B. Riley lowering the target price from $30 to $18.
• The company currently holds a consensus rating of "Hold" with an average price target of $26, while institutional investors own over 72% of Compass Diversified's shares.

Compass Diversified (NYSE:CODI - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Other equities research analysts have also recently issued reports about the company. Jefferies Financial Group cut Compass Diversified to a "hold" rating in a research report on Friday, June 6th. B. Riley cut shares of Compass Diversified from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $30.00 to $18.00 in a report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Compass Diversified currently has an average rating of "Hold" and an average target price of $26.00.

Compass Diversified Stock Up 1.4%

Shares of CODI traded up $0.10 during trading hours on Friday, reaching $6.83. 825,247 shares of the stock traded hands, compared to its average volume of 1,060,769. Compass Diversified has a 52 week low of $5.98 and a 52 week high of $24.59. The company has a market cap of $513.51 million, a price-to-earnings ratio of -5.33 and a beta of 1.02. The stock has a fifty day simple moving average of $6.64 and a 200 day simple moving average of $14.41. The company has a current ratio of 4.07, a quick ratio of 1.57 and a debt-to-equity ratio of 1.54.

Institutional Investors Weigh In On Compass Diversified

Several large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in Compass Diversified by 10.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,789,892 shares of the financial services provider's stock worth $88,709,000 after acquiring an additional 451,731 shares in the last quarter. Nuveen LLC purchased a new stake in Compass Diversified in the first quarter valued at $7,785,000. Raymond James Financial Inc. purchased a new position in Compass Diversified during the 4th quarter valued at about $4,250,000. Bank of America Corp DE grew its stake in Compass Diversified by 14.9% during the 4th quarter. Bank of America Corp DE now owns 1,203,606 shares of the financial services provider's stock worth $27,779,000 after purchasing an additional 156,074 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in shares of Compass Diversified by 345.5% during the 1st quarter. Jane Street Group LLC now owns 193,907 shares of the financial services provider's stock worth $3,620,000 after acquiring an additional 150,386 shares in the last quarter. 72.73% of the stock is owned by institutional investors.

About Compass Diversified

Compass Diversified is a private equity firm specializing in add on acquisitions, buyouts, industry consolidation, recapitalization, late stage and middle market investments. It seeks to invest in niche industrial or branded consumer companies, manufacturing, distribution, consumer products, business services sector, healthcare, safety & security, electronic components, food and foodservice.