Compass Minerals International (NYSE:CMP) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Compass Minerals International's stock price has crossed above its 200-day moving average of $15.11, reaching a high of $19.95 during trading.
• Analysts have raised price targets for the stock, with Deutsche Bank setting a new target of $22.00, while BMO Capital Markets increased theirs to $20.00.
• Institutional investors have significantly increased their holdings, with hedge funds owning 99.78% of the company’s stock, showcasing strong institutional interest.

Compass Minerals International, Inc. (NYSE:CMP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.11 and traded as high as $19.95. Compass Minerals International shares last traded at $19.91, with a volume of 348,721 shares.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CMP shares. Wall Street Zen cut Compass Minerals International from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 27th. BMO Capital Markets upped their price objective on Compass Minerals International from $15.00 to $20.00 and gave the company a "market perform" rating in a report on Monday, May 12th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $22.00 price objective (up previously from $14.00) on shares of Compass Minerals International in a report on Monday, June 23rd.

Compass Minerals International Trading Down 0.1%

The firm has a market capitalization of $831.87 million, a P/E ratio of -5.63 and a beta of 1.11. The company has a debt-to-equity ratio of 3.37, a quick ratio of 1.12 and a current ratio of 1.84. The firm has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $15.21.

Compass Minerals International (NYSE:CMP - Get Free Report) last issued its earnings results on Wednesday, May 7th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.39 by $0.24. The business had revenue of $494.60 million during the quarter, compared to analysts' expectations of $413.96 million. Compass Minerals International had a negative return on equity of 24.24% and a negative net margin of 12.15%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. On average, equities research analysts expect that Compass Minerals International, Inc. will post -0.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Compass Minerals International

Several institutional investors have recently bought and sold shares of CMP. CWM LLC grew its position in Compass Minerals International by 95.0% during the second quarter. CWM LLC now owns 1,363 shares of the basic materials company's stock worth $27,000 after buying an additional 664 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Compass Minerals International by 4.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company's stock worth $192,000 after purchasing an additional 858 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Compass Minerals International by 2.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,063 shares of the basic materials company's stock worth $429,000 after purchasing an additional 983 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Compass Minerals International by 37.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,967 shares of the basic materials company's stock valued at $80,000 after acquiring an additional 1,084 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC raised its position in shares of Compass Minerals International by 9.3% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 12,959 shares of the basic materials company's stock valued at $260,000 after acquiring an additional 1,098 shares during the last quarter. 99.78% of the stock is currently owned by institutional investors.

About Compass Minerals International

Compass Minerals International, Inc, provides essential minerals in the United States, Canada, the United Kingdom, and internationally. It operates through two segments, Salt and Plant Nutrition. The Salt segment produces, markets, and sells sodium chloride and magnesium chloride, including rock salt, mechanically and solar evaporated salt, and brine and flake magnesium chloride products; and purchases potassium chloride and calcium chloride to sell as finished products or to blend with sodium chloride to produce specialty products.