Compass Minerals International (NYSE:CMP) Trading Down 6.4% – Here’s Why

Compass Minerals International, Inc. (NYSE:CMP) shares fell 6.4% during mid-day trading on Wednesday . The company traded as low as $13.10 and last traded at $13.22. 183,011 shares were traded during mid-day trading, a decline of 77% from the average session volume of 807,519 shares. The stock had previously closed at $14.12.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CMP. StockNews.com upgraded shares of Compass Minerals International to a “sell” rating in a report on Wednesday, September 18th. BMO Capital Markets reissued a “market perform” rating and issued a $20.00 price objective on shares of Compass Minerals International in a research note on Wednesday, September 18th. One equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.00.

Compass Minerals International Stock Performance

The stock has a market capitalization of $563.29 million, a price-to-earnings ratio of -3.20 and a beta of 1.17. The stock’s 50 day moving average is $13.50 and its 200 day moving average is $11.88. The company has a current ratio of 2.90, a quick ratio of 0.74 and a debt-to-equity ratio of 2.47.

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

Institutional Investors Weigh In On Compass Minerals International

Hedge funds have recently modified their holdings of the company. Denver PWM LLC purchased a new position in shares of Compass Minerals International during the 2nd quarter worth about $29,000. Signaturefd LLC lifted its holdings in shares of Compass Minerals International by 629.4% during the 3rd quarter. Signaturefd LLC now owns 2,407 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 2,077 shares during the period. Ridgewood Investments LLC purchased a new position in shares of Compass Minerals International during the 2nd quarter worth about $37,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Compass Minerals International during the 2nd quarter worth about $45,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Compass Minerals International in the second quarter valued at approximately $46,000. 99.78% of the stock is owned by institutional investors and hedge funds.

Compass Minerals International Company Profile

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.