Compass Minerals International (NYSE:CMP) Shares Gap Down – Here’s Why

Compass Minerals International, Inc. (NYSE:CMP) gapped down before the market opened on Monday . The stock had previously closed at $27.35, but opened at $26.00. Compass Minerals International shares last traded at $26.5460, with a volume of 59,796 shares traded.

Wall Street Analyst Weigh In

Several research firms recently commented on CMP. Compass Point set a $27.00 price target on Compass Minerals International in a research note on Monday. Weiss Ratings upgraded Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, June 18th. Zacks Research lowered Compass Minerals International from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen cut Compass Minerals International from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price target (down from $30.00) on shares of Compass Minerals International in a research report on Monday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $27.60.

Compass Minerals International Stock Performance

The stock’s 50-day moving average price is $29.68 and its 200-day moving average price is $26.97. The company has a current ratio of 2.01, a quick ratio of 0.98 and a debt-to-equity ratio of 2.72. The company has a market capitalization of $1.13 billion, a P/E ratio of 62.61 and a beta of 1.23.

Compass Minerals International (NYSE:CMP) last issued its quarterly earnings data on Wednesday, August 5th. The basic materials company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.08). Compass Minerals International had a return on equity of 12.75% and a net margin of 1.42%.The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $207.75 million. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Compass Minerals International’s quarterly revenue was up .3% compared to the same quarter last year. As a group, equities analysts expect that Compass Minerals International, Inc. will post 0.82 EPS for the current year.

Hedge Funds Weigh In On Compass Minerals International

Several institutional investors have recently modified their holdings of CMP. Fifth Third Bancorp lifted its position in Compass Minerals International by 6,266.7% in the 1st quarter. Fifth Third Bancorp now owns 1,719 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 1,692 shares during the last quarter. Comerica Bank grew its position in Compass Minerals International by 80.0% in the 4th quarter. Comerica Bank now owns 1,868 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 830 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Compass Minerals International by 94.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,216 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 1,076 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Compass Minerals International in the first quarter valued at approximately $70,000. Finally, Headlands Technologies LLC bought a new stake in shares of Compass Minerals International during the second quarter valued at approximately $83,000. 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.