Compass Minerals International (NYSE:CMP) Shares Gap Down - Here's What Happened

Key Points

• Compass Minerals shares opened lower, falling from a prior close of $27.35 to $26.00 before last trading at $26.5460.
• Analyst sentiment is cautious: the stock has a consensus rating of “Reduce” and a $27.60 target price, with JPMorgan lowering its target to $27 and Wall Street Zen downgrading the shares to “Hold.”
• The company missed quarterly EPS expectations, reporting a loss of $0.14 per share versus the projected $0.06 loss, although revenue of $215.3 million exceeded estimates and rose slightly year over year.

Compass Minerals International, Inc. (NYSE:CMP - Get Free Report) shares 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.

Analyst Ratings Changes

A number of research firms recently issued reports on CMP. Compass Point set a $27.00 target price on shares of Compass Minerals International in a research report on Monday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $35.00 price target on shares of Compass Minerals International in a research report on Wednesday, May 27th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $27.00 target price (down from $30.00) on shares of Compass Minerals International in a 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. Finally, Weiss Ratings upgraded shares of Compass Minerals International from a "sell (d)" rating to a "sell (d+)" rating in a research note on Thursday, June 18th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $27.60.

Compass Minerals International Stock Down 1.7%

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 62.57 and a beta of 1.23. The stock's fifty day moving average is $29.94 and its 200 day moving average is $26.91.

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

Hedge Funds Weigh In On Compass Minerals International

Hedge funds and other institutional investors have recently bought and sold shares of the company. Irenic Capital Management LP purchased a new position in shares of Compass Minerals International during the first quarter worth about $33,520,000. Gumshoe Capital Management LLC acquired a new stake in shares of Compass Minerals International during the fourth quarter valued at about $24,842,000. Bank of America Corp DE boosted its holdings in Compass Minerals International by 692.8% in the first quarter. Bank of America Corp DE now owns 1,253,045 shares of the basic materials company's stock worth $29,259,000 after purchasing an additional 1,094,987 shares during the period. Engine Capital Management LP boosted its position in shares of Compass Minerals International by 275.4% during the first quarter. Engine Capital Management LP now owns 1,439,065 shares of the basic materials company's stock worth $33,602,000 after buying an additional 1,055,740 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. raised its position in Compass Minerals International by 201.7% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,280,648 shares of the basic materials company's stock worth $25,728,000 after acquiring an additional 856,149 shares in the last quarter. 99.78% of the stock is currently owned by hedge funds and other 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source