Zacks: Analysts Anticipate Compass Diversified Holdings (NYSE:CODI) Will Announce Quarterly Sales of $389.19 Million

Posted by Gary Hoff on Nov 9th, 2019 // Comments off

Analysts forecast that Compass Diversified Holdings (NYSE:CODI) will announce sales of $389.19 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Compass Diversified’s earnings, with the highest sales estimate coming in at $397.21 million and the lowest estimate coming in at $383.57 million. Compass Diversified posted sales of $452.52 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 14%. The firm is expected to issue its next earnings report on Wednesday, February 26th.

On average, analysts expect that Compass Diversified will report full year sales of $1.51 billion for the current financial year, with estimates ranging from $1.49 billion to $1.53 billion. For the next financial year, analysts expect that the firm will report sales of $1.49 billion, with estimates ranging from $1.40 billion to $1.54 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Compass Diversified.

A number of research firms recently weighed in on CODI. Raymond James lowered shares of Compass Diversified from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 1st. They noted that the move was a valuation call. Roth Capital began coverage on shares of Compass Diversified in a research report on Monday, July 29th. They set a “buy” rating and a $21.50 price target on the stock. TheStreet raised shares of Compass Diversified from a “c+” rating to a “b-” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research raised shares of Compass Diversified from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research report on Monday, November 4th.

A number of hedge funds have recently made changes to their positions in the business. Independent Advisor Alliance raised its position in Compass Diversified by 4.1% in the second quarter. Independent Advisor Alliance now owns 25,091 shares of the financial services provider’s stock worth $479,000 after acquiring an additional 980 shares during the period. JPMorgan Chase & Co. raised its position in shares of Compass Diversified by 49.7% in the second quarter. JPMorgan Chase & Co. now owns 2,993 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 993 shares during the period. US Bancorp DE raised its position in shares of Compass Diversified by 50.6% in the second quarter. US Bancorp DE now owns 3,012 shares of the financial services provider’s stock valued at $57,000 after purchasing an additional 1,012 shares during the period. Private Advisor Group LLC raised its position in shares of Compass Diversified by 9.6% in the second quarter. Private Advisor Group LLC now owns 12,534 shares of the financial services provider’s stock valued at $240,000 after purchasing an additional 1,100 shares during the period. Finally, Phocas Financial Corp. bought a new stake in shares of Compass Diversified in the second quarter valued at approximately $2,660,000. 30.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of CODI traded up $0.15 during trading hours on Wednesday, reaching $22.24. 253,154 shares of the stock traded hands, compared to its average volume of 200,500. The company has a current ratio of 3.46, a quick ratio of 2.16 and a debt-to-equity ratio of 0.77. The stock has a fifty day simple moving average of $19.89 and a 200 day simple moving average of $18.66. Compass Diversified has a 52 week low of $11.60 and a 52 week high of $22.65. The company has a market cap of $1.33 billion, a price-to-earnings ratio of 15.44 and a beta of 1.12.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 24th. Shareholders of record on Thursday, October 17th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.47%. The ex-dividend date of this dividend was Wednesday, October 16th. Compass Diversified’s dividend payout ratio is 100.00%.

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.

Zacks: Analysts Anticipate Compass Diversified Holdings (NYSE:CODI) Will Announce Quarterly Sales of $389.19 Million

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