Compass Minerals International (NYSE:CMP) Shares Gap Down – Here’s Why

Shares of Compass Minerals International, Inc. (NYSE:CMP) gapped down prior to trading on Monday . The stock had previously closed at $27.35, but opened at $26.00. Compass Minerals International shares last traded at $26.5460, with a volume of 59,796 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CMP shares. Zacks Research downgraded Compass Minerals International from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $35.00 price target on shares of Compass Minerals International in a research note on Wednesday, May 27th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price objective (down from $30.00) on shares of Compass Minerals International in a report on Monday. Weiss Ratings raised shares of Compass Minerals International from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, June 18th. Finally, Wall Street Zen lowered Compass Minerals International from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $27.60.

Compass Minerals International Stock Down 1.7%

The business’s 50 day moving average is $29.94 and its 200-day moving average is $26.91. The company has a market cap of $1.13 billion, a PE ratio of 62.57 and a beta of 1.23. The company has a debt-to-equity ratio of 2.72, a current ratio of 2.01 and a quick ratio of 0.98.

Compass Minerals International (NYSE:CMP) last released its quarterly earnings results on Wednesday, August 5th. The basic materials company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.08). The firm had revenue of $215.30 million for the quarter, compared to analyst estimates of $207.75 million. Compass Minerals International had a return on equity of 12.75% and a net margin of 1.42%.Compass Minerals International’s revenue for the quarter was up .3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.39) earnings per share. As a group, analysts predict that Compass Minerals International, Inc. will post 0.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Irenic Capital Management LP acquired a new position in Compass Minerals International in the first quarter valued at about $33,520,000. Gumshoe Capital Management LLC acquired a new position in shares of Compass Minerals International during the 4th quarter worth about $24,842,000. Bank of America Corp DE grew its position in shares of Compass Minerals International by 692.8% in the 1st quarter. Bank of America Corp DE now owns 1,253,045 shares of the basic materials company’s stock valued at $29,259,000 after acquiring an additional 1,094,987 shares during the period. Engine Capital Management LP raised its position in shares of Compass Minerals International by 275.4% in the first quarter. Engine Capital Management LP now owns 1,439,065 shares of the basic materials company’s stock valued at $33,602,000 after purchasing an additional 1,055,740 shares during the period. Finally, Ewing Morris & Co. Investment Partners Ltd. boosted its stake in shares of Compass Minerals International by 201.7% in the second quarter. Ewing Morris & Co. Investment Partners Ltd. now owns 1,280,648 shares of the basic materials company’s stock valued at $25,728,000 after buying an additional 856,149 shares during the period. Institutional investors own 99.78% of the company’s stock.

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.