Compass Minerals International’s (CMP) “Underweight” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Compass Minerals International (NYSE:CMP) in a research note published on Monday, Marketbeat reports. The firm currently has a $27.00 price target on the basic materials company’s stock, down from their prior price target of $30.00.

A number of other research analysts have also recently commented on the stock. Compass Point set a $27.00 target price on shares of Compass Minerals International in a research report on Monday. Wall Street Zen cut shares of Compass Minerals International from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 price target on shares of Compass Minerals International in a research note on Wednesday, May 27th. Zacks Research lowered shares of Compass Minerals International from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings raised shares of Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, June 18th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Compass Minerals International currently has a consensus rating of “Reduce” and a consensus target price of $27.60.

Compass Minerals International Price Performance

NYSE:CMP opened at $26.60 on Monday. Compass Minerals International has a 52 week low of $16.40 and a 52 week high of $34.50. The company has a quick ratio of 0.98, a current ratio of 2.01 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $1.12 billion, a P/E ratio of 61.86 and a beta of 1.23. The stock’s fifty day moving average is $29.56 and its two-hundred day moving average is $26.98.

Compass Minerals International (NYSE:CMP) last announced its quarterly earnings results on Wednesday, August 5th. The basic materials company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The business had revenue of $215.30 million during the quarter, compared to analyst estimates of $207.75 million. Compass Minerals International had a net margin of 1.42% and a return on equity of 12.75%. The business’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the company earned ($0.39) EPS. Equities analysts expect that Compass Minerals International will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Compass Minerals International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp increased its stake in Compass Minerals International by 6,266.7% during the first quarter. Fifth Third Bancorp now owns 1,719 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 1,692 shares during the period. Comerica Bank boosted its stake in shares of Compass Minerals International by 80.0% in 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. PNC Financial Services Group Inc. boosted its stake 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 valued at $52,000 after purchasing an additional 1,076 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Compass Minerals International in the first quarter valued at approximately $70,000. Finally, Headlands Technologies LLC acquired a new position in shares of Compass Minerals International in the second quarter valued at approximately $83,000. 99.78% of the stock is currently owned by hedge funds and other institutional investors.

About Compass Minerals International

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.