Compass Diversified (NYSE:CODI) Rating Increased to Buy at B. Riley Financial

Compass Diversified (NYSE:CODI) was upgraded by investment analysts at B. Riley Financial from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $15.00 price objective on the financial services provider’s stock. B. Riley Financial’s price target indicates a potential upside of 35.75% from the company’s previous close.

A number of other brokerages also recently commented on CODI. TD Cowen reissued a “buy” rating and set a $12.50 price objective on shares of Compass Diversified in a research report on Thursday, July 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Compass Diversified in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Compass Diversified has an average rating of “Hold” and a consensus price target of $14.17.

Compass Diversified Stock Performance

Shares of CODI stock opened at $11.05 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 2.67 and a debt-to-equity ratio of 34.60. Compass Diversified has a 52 week low of $4.58 and a 52 week high of $12.64. The stock has a market capitalization of $831.40 million, a PE ratio of -2.83 and a beta of 1.27. The firm has a 50 day moving average of $10.35 and a two-hundred day moving average of $9.27.

Hedge Funds Weigh In On Compass Diversified

Several hedge funds have recently made changes to their positions in CODI. Empowered Funds LLC purchased a new stake in shares of Compass Diversified in the 1st quarter valued at about $222,000. Essential Partners LLC increased its position in Compass Diversified by 9,263.2% during the first quarter. Essential Partners LLC now owns 5,337 shares of the financial services provider’s stock worth $42,000 after buying an additional 5,280 shares during the period. Bank of America Corp DE increased its position in Compass Diversified by 77.4% during the first quarter. Bank of America Corp DE now owns 1,306,527 shares of the financial services provider’s stock worth $10,269,000 after buying an additional 570,003 shares during the period. Saba Capital Management L.P. lifted its stake in Compass Diversified by 4.9% in the first quarter. Saba Capital Management L.P. now owns 429,259 shares of the financial services provider’s stock valued at $3,374,000 after buying an additional 20,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Compass Diversified in the first quarter valued at approximately $736,000. Hedge funds and other institutional investors own 72.73% of the company’s stock.

About Compass Diversified

Compass Diversified Holdings (NYSE:CODI) is a publicly traded private equity company headquartered in Bethesda, Maryland. The firm specializes in acquiring and managing middle-market businesses across a variety of industries, with a focus on driving operational performance and sustainable growth. As an externally managed entity, Compass Diversified leverages a disciplined investment approach to build a portfolio of market-leading companies that benefit from strategic oversight, capital support and shared best practices.

Compass Diversified’s investment activities span five core sectors: branded consumer, consumer services, differentiated industrial products, value-added distribution and business services.