Compass Minerals International (NYSE:CMP) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Compass Minerals International shares rose above their 200-day moving average, trading as high as $29.83 and last changing hands around $29.43. The stock’s 200-day average was $26.22.
• Analysts have been mixed on the company, but the current consensus is Hold with a target price of $28.80. JPMorgan recently upgraded CMP to neutral and lifted its price target to $30.
• The company beat its latest quarterly EPS estimate, reporting $0.63 per share versus the expected $0.59, while revenue came in at $453.2 million. Despite the beat, revenue fell 8.4% year over year.

Compass Minerals International, Inc. (NYSE:CMP - Get Free Report)'s share price passed 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 trading hands.

Analysts Set New Price Targets

Several analysts have recently weighed in on CMP shares. Compass Point set a $30.00 price objective on shares of Compass Minerals International in a research report on Thursday, May 14th. JPMorgan Chase & Co. raised shares of Compass Minerals International from an "underweight" rating to a "neutral" rating and increased their target price for the company from $20.00 to $30.00 in a research report on Thursday, May 14th. Zacks Research lowered shares of Compass Minerals International from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Wall Street Zen cut shares of Compass Minerals International from a "buy" rating to a "hold" rating in a research report on Sunday, July 5th. 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 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 stock. According to MarketBeat, Compass Minerals International has a consensus rating of "Hold" and a consensus target price of $28.80.

Compass Minerals International Stock Down 0.1%

The company has a debt-to-equity ratio of 2.60, a current ratio of 2.06 and a quick ratio of 1.34. The firm's 50 day moving average price is $30.24 and its two-hundred day moving average price is $26.22. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of 196.18 and a beta of 1.24.

Compass Minerals International (NYSE:CMP - Get Free Report) last issued 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 return on equity of 8.99% and a net margin of 0.55%.The firm had revenue of $453.20 million for the quarter, compared to analysts' expectations of $418.97 million. During the same quarter in the previous year, the firm posted $0.63 EPS. The firm's revenue for the quarter was down 8.4% on a year-over-year basis. As a group, sell-side analysts forecast that Compass Minerals International, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Compass Minerals International

Several hedge funds have recently modified their holdings of CMP. Fifth Third Bancorp boosted its position 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 in the last quarter. Comerica Bank increased 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 in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Compass Minerals International by 94.4% during the 1st 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. acquired a new position in shares of Compass Minerals International during the 1st quarter worth $70,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Compass Minerals International in the 2nd quarter worth about $83,000. 99.78% of the stock is owned by institutional investors and hedge funds.

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.

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