Compass Minerals International (NYSE:CMP) Reaches New 52-Week High – Here’s Why

Compass Minerals International, Inc. (NYSE:CMP)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $26.65 and last traded at $26.30, with a volume of 135273 shares trading hands. The stock had previously closed at $25.14.

Analyst Ratings Changes

A number of analysts have issued reports on CMP shares. BMO Capital Markets lifted their price objective on Compass Minerals International from $20.00 to $25.00 and gave the stock a “market perform” rating in a research note on Monday, January 5th. Loop Capital set a $24.00 price target on shares of Compass Minerals International in a research report on Tuesday, December 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Compass Minerals International in a research note on Wednesday, January 21st. Compass Point set a $22.00 price objective on shares of Compass Minerals International in a research note on Tuesday, December 16th. Finally, Wall Street Zen upgraded shares of Compass Minerals International from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Compass Minerals International currently has an average rating of “Reduce” and an average target price of $22.00.

Compass Minerals International Stock Performance

The business has a 50 day simple moving average of $21.15 and a two-hundred day simple moving average of $19.66. The firm has a market cap of $1.09 billion, a PE ratio of -13.50 and a beta of 1.17. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 3.55.

Compass Minerals International (NYSE:CMP) last announced its quarterly earnings results on Monday, December 8th. The basic materials company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.02). The firm had revenue of $227.50 million for the quarter, compared to analysts’ expectations of $223.72 million. Compass Minerals International had a negative net margin of 6.42% and a negative return on equity of 8.22%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.77) EPS. As a group, equities research analysts forecast that Compass Minerals International, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its stake in shares of Compass Minerals International by 10.5% during the first quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company’s stock worth $464,000 after acquiring an additional 4,740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Compass Minerals International by 4.3% during 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. Public Employees Retirement System of Ohio increased its stake in 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 purchasing an additional 1,084 shares in the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of Compass Minerals International by 9.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 12,959 shares of the basic materials company’s stock worth $260,000 after buying an additional 1,098 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of 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 during the period. 99.78% of the stock is owned by institutional investors and hedge funds.

About Compass Minerals International

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.