Raymond James placed its Market Perform rating on Compass Diversified (CODI) under review after the company announced an internal investigation of subsidiary Lugano’s non-company financing and inventory practices. Compass expected to need to restate fiscal 2024 financials and earlier periods may also be unreliable, the analyst tells investors in a research note. “Such financials are obviously a core underpinning of our financial models and rating,” contends the firm.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CODI:
- Compass Diversified downgraded to Neutral from Buy at B. Riley
- Compass Diversified to delay filing 10-Q on FY24 financials non-reliance
- Closing Bell Movers: Arm sinks over 10% as guidance falls short
- Compass Diversified Faces Financial Statement Irregularities
- Compass Diversified (CODI) Q1 Earnings Cheat Sheet