Compass Minerals International (NYSE:CMP) Sets New 1-Year High – Here’s Why

Shares of Compass Minerals International, Inc. (NYSE:CMP) reached a new 52-week high during trading on Thursday . The company traded as high as $32.40 and last traded at $32.3480, with a volume of 395737 shares. The stock had previously closed at $31.70.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMP. Weiss Ratings raised shares of Compass Minerals International from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Zacks Research lowered Compass Minerals International from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $35.00 target price on shares of Compass Minerals International in a report on Wednesday. Wall Street Zen lowered Compass Minerals International from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Finally, JPMorgan Chase & Co. raised Compass Minerals International from an “underweight” rating to a “neutral” rating and upped their target price for the company from $20.00 to $30.00 in a report on Thursday, May 14th. One equities research 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. According to MarketBeat, Compass Minerals International presently has an average rating of “Hold” and a consensus price target of $28.80.

Compass Minerals International Stock Up 2.3%

The company has a market cap of $1.36 billion, a PE ratio of 216.21 and a beta of 1.18. The company has a quick ratio of 1.34, a current ratio of 2.06 and a debt-to-equity ratio of 2.60. The firm’s fifty day simple moving average is $26.01 and its 200-day simple moving average is $23.10.

Compass Minerals International (NYSE:CMP) last announced its quarterly earnings results on Wednesday, May 6th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Compass Minerals International had a net margin of 0.55% and a return on equity of 8.99%. The company had revenue of $453.20 million for the quarter, compared to the consensus estimate of $418.97 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was down 8.4% compared to the same quarter last year. As a group, equities research analysts expect that Compass Minerals International, Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Compass Minerals International

Several institutional investors and hedge funds have recently modified their holdings of the business. Comerica Bank raised its position 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 buying an additional 830 shares during the last quarter. Fifth Third Bancorp raised its position in shares of 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 buying an additional 1,692 shares during the last quarter. PNC Financial Services Group Inc. raised its position 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 buying an additional 1,076 shares during the last quarter. 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. Hedge funds and other institutional investors own 99.78% of the company’s stock.

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.