Compass Minerals International (NYSE:CMP) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Compass Minerals International, Inc. (NYSE:CMP)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.22 and traded as high as $29.83. Compass Minerals International shares last traded at $29.4270, with a volume of 211,431 shares.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMP. Zacks Research downgraded shares of Compass Minerals International from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings raised Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 18th. JPMorgan Chase & Co. upgraded Compass Minerals International from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $20.00 to $30.00 in a research note on Thursday, May 14th. Compass Point set a $30.00 price objective on Compass Minerals International in a research report on Thursday, May 14th. Finally, Wall Street Zen cut Compass Minerals International from a “buy” rating to a “hold” rating in a research note on Sunday, July 5th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.80.

Compass Minerals International Stock Performance

The company has a current ratio of 2.06, a quick ratio of 1.34 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $1.26 billion, a P/E ratio of 200.65 and a beta of 1.24. The business’s 50 day simple moving average is $30.25 and its two-hundred day simple moving average is $26.29.

Compass Minerals International (NYSE:CMP) last issued its earnings results on Wednesday, May 6th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The firm had revenue of $453.20 million for the quarter, compared to the consensus estimate of $418.97 million. Compass Minerals International had a net margin of 0.55% and a return on equity of 8.99%. The business’s revenue was down 8.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Sell-side analysts anticipate that Compass Minerals International, Inc. will post 0.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Bank lifted its position in Compass Minerals International by 80.0% during the fourth quarter. Comerica Bank now owns 1,868 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 830 shares during the period. Fifth Third Bancorp lifted its holdings in Compass Minerals International by 6,266.7% in the first quarter. Fifth Third Bancorp now owns 1,719 shares of the basic materials company’s stock valued at $40,000 after acquiring an additional 1,692 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Compass Minerals International by 94.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,216 shares of the basic materials company’s stock worth $52,000 after buying an additional 1,076 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Compass Minerals International during the 1st quarter worth $70,000. Finally, Headlands Technologies LLC purchased a new position in Compass Minerals International during the second quarter valued at $83,000. 99.78% of the stock is owned by institutional investors.

Compass Minerals International Company Profile

Compass Minerals International, Inc is a global producer of essential mineral-based products, primarily known for its salt and plant nutrition portfolios. The company’s deicing salts are used by municipalities and commercial customers across North America to maintain safer roadways in winter months. In addition, its water conditioning salts serve both residential and industrial users, supporting water treatment systems that remove hard minerals to protect plumbing and equipment.

Beyond conventional salt products, Compass Minerals has developed a specialty plant nutrition business focused on sulfate of potash (SOP), a premium fertilizer that provides both potassium and sulfur to crops.