Compass Minerals International Inc. (CMP) Upgraded to Buy by Zacks Investment Research
Compass Minerals International Inc. (NYSE:CMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $82.00 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 11.59% from the stock’s previous close.
According to Zacks, “Compass Minerals is the largest producer of rock, or highway deicing, salt in North America and the United Kingdom and operates the largest highway deicing salt mines in these regions. The company is also the third largest producer of general trade salt in North America and the second largest in the United Kingdom, serving major retailers, agricultural cooperatives and food producers. In addition, Compass is the largest producer of sulfate of potash in North America, which is used in the production of specialty fertilizers. “
A number of other research firms have also weighed in on CMP. Stifel Nicolaus initiated coverage on Compass Minerals International in a research report on Tuesday, July 12th. They set a “buy” rating and a $90.00 price objective for the company. TheStreet lowered Compass Minerals International from a “buy” rating to a “hold” rating in a report on Monday, July 25th. Finally, KeyCorp lowered Compass Minerals International from an “overweight” rating to a “sector weight” rating in a report on Wednesday, June 15th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $75.88.
Shares of Compass Minerals International (NYSE:CMP) traded down 0.14% on Tuesday, hitting $73.48. The stock had a trading volume of 358,285 shares. The stock has a market cap of $2.48 billion, a PE ratio of 17.67 and a beta of 0.62. Compass Minerals International has a 12 month low of $66.30 and a 12 month high of $86.41. The stock has a 50 day moving average of $73.09 and a 200-day moving average of $74.02.
Compass Minerals International (NYSE:CMP) last posted its quarterly earnings data on Monday, July 25th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Compass Minerals International had a return on equity of 21.37% and a net margin of 13.63%. The company earned $169.50 million during the quarter, compared to analyst estimates of $177.56 million. During the same quarter last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts anticipate that Compass Minerals International will post $2.78 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a $0.695 dividend. This represents a $2.78 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Tuesday, August 30th. Compass Minerals International’s payout ratio is currently 66.83%.
Several hedge funds have recently modified their holdings of CMP. Commonwealth Equity Services Inc raised its stake in shares of Compass Minerals International by 58.1% in the first quarter. Commonwealth Equity Services Inc now owns 12,475 shares of the company’s stock valued at $884,000 after buying an additional 4,586 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Compass Minerals International by 470.5% in the first quarter. IFP Advisors Inc now owns 1,626 shares of the company’s stock valued at $115,000 after buying an additional 1,341 shares during the last quarter. BlackRock Inc. raised its stake in shares of Compass Minerals International by 24.8% in the first quarter. BlackRock Inc. now owns 47,026 shares of the company’s stock valued at $3,333,000 after buying an additional 9,342 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in shares of Compass Minerals International by 3.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,011,248 shares of the company’s stock valued at $71,657,000 after buying an additional 29,772 shares during the last quarter. Finally, Motley Fool Wealth Management LLC purchased a new stake in shares of Compass Minerals International during the first quarter valued at approximately $2,219,000. 97.03% of the stock is owned by institutional investors.
Compass Minerals International Company Profile
Compass Minerals International, Inc is a holding company. The Company, through its subsidiaries, is engaged in producing and marketing essential minerals, including salt, sulfate of potash (SOP) specialty fertilizer, magnesium chloride and micronutrients. It operates through two segments, which include salt and plant nutrition.
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