Compass Minerals International (NYSE:CMP) Sets New 52-Week High – Still a Buy?

Compass Minerals International, Inc. (NYSE:CMP) reached a new 52-week high on Tuesday . The stock traded as high as $23.66 and last traded at $23.27, with a volume of 124191 shares. The stock had previously closed at $22.50.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMP. Compass Point set a $22.00 price target on Compass Minerals International in a research note on Tuesday, December 16th. BMO Capital Markets lifted their target price on Compass Minerals International from $20.00 to $25.00 and gave the company a “market perform” rating in a research report on Monday, January 5th. Loop Capital set a $24.00 target price on Compass Minerals International in a research note on Tuesday, December 30th. Zacks Research upgraded shares of Compass Minerals International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of Compass Minerals International from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $22.00.

Compass Minerals International Stock Performance

The company has a fifty day moving average price of $19.30 and a two-hundred day moving average price of $19.42. The company has a market capitalization of $1.01 billion, a P/E ratio of -12.58 and a beta of 1.17. The company has a debt-to-equity ratio of 3.55, a current ratio of 2.15 and a quick ratio of 0.98.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada grew its position in shares of Compass Minerals International by 10.5% in the 1st quarter. Royal Bank of Canada now owns 49,928 shares of the basic materials company’s stock valued at $464,000 after buying an additional 4,740 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Compass Minerals International by 4.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,665 shares of the basic materials company’s stock worth $192,000 after acquiring an additional 858 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Compass Minerals International in the second quarter worth approximately $302,000. Counterpoint Mutual Funds LLC bought a new stake in Compass Minerals International in the second quarter valued at approximately $771,000. Finally, Public Employees Retirement System of Ohio increased its position 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 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.