Compass Minerals International (NYSE:CMP) Shares Down 4.1% – Here’s What Happened

Compass Minerals International, Inc. (NYSE:CMP)’s stock price was down 4.1% during trading on Monday . The company traded as low as $14.56 and last traded at $14.79. Approximately 62,585 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 812,105 shares. The stock had previously closed at $15.43.

Analysts Set New Price Targets

Several brokerages have issued reports on CMP. BMO Capital Markets reaffirmed a “market perform” rating and set a $20.00 target price on shares of Compass Minerals International in a research report on Wednesday, September 18th. StockNews.com raised Compass Minerals International to a “sell” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.00.

Compass Minerals International Stock Down 2.1 %

The company’s fifty day simple moving average is $13.31 and its 200-day simple moving average is $11.84. The firm has a market capitalization of $612.22 million, a PE ratio of -3.60 and a beta of 1.17. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.90 and a quick ratio of 0.74.

Compass Minerals International (NYSE:CMP) last announced its earnings results on Tuesday, September 17th. The basic materials company reported ($1.01) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.34). Compass Minerals International had a positive return on equity of 4.75% and a negative net margin of 14.81%. The business had revenue of $202.90 million for the quarter, compared to analysts’ expectations of $201.86 million. On average, analysts forecast that Compass Minerals International, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Compass Minerals International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Denver PWM LLC purchased a new stake in Compass Minerals International during the 2nd quarter worth approximately $29,000. Signaturefd LLC grew its holdings in shares of Compass Minerals International by 629.4% during the third quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock valued at $29,000 after buying an additional 2,077 shares during the last quarter. Ridgewood Investments LLC acquired a new position in shares of Compass Minerals International in the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Compass Minerals International in the 2nd quarter valued at $45,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Compass Minerals International during the 2nd quarter worth about $46,000. 99.78% of the stock is owned by hedge funds and other 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.