Compass Minerals International (NYSE:CMP) Stock Crosses Below Fifty Day Moving Average – Here’s Why

Shares of Compass Minerals International, Inc. (NYSE:CMP) passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $23.16 and traded as low as $22.80. Compass Minerals International shares last traded at $22.9830, with a volume of 174,051 shares changing hands.

Analysts Set New Price Targets

CMP has been the subject of several analyst reports. Deutsche Bank reduced their price objective on Compass Minerals International from $35.00 to $32.00 and set a “buy” rating for the company in a research note on Monday, August 31st. JPMorgan Chase & Co. downgraded Compass Minerals International from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $30.00 to $27.00 in a research note on Monday, August 10th. Compass Point set a $27.00 target price on Compass Minerals International in a research note on Monday, August 10th. BMO Capital Markets reissued a “market perform” rating on shares of Compass Minerals International in a report on Tuesday, October 6th. Finally, Wall Street Zen cut Compass Minerals International from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, Compass Minerals International currently has an average rating of “Reduce” and an average price target of $27.00.

Compass Minerals International Trading Down 0.2%

The firm has a market cap of $966.76 million, a PE ratio of 30.77 and a beta of 1.26. The company’s fifty day moving average price is $23.09 and its two-hundred day moving average price is $25.87. The company has a quick ratio of 0.98, a current ratio of 2.01 and a debt-to-equity ratio of 2.72.

Hedge Funds Weigh In On Compass Minerals International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its stake in shares of Compass Minerals International by 6,266.7% in the first quarter. Fifth Third Bancorp now owns 1,719 shares of the basic materials company’s stock valued at $40,000 after buying an additional 1,692 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Compass Minerals International in the second quarter worth $43,000. PNC Financial Services Group Inc. lifted its holdings in Compass Minerals International by 94.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,216 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 1,076 shares during the period. Allworth Financial LP lifted its holdings in Compass Minerals International by 454.3% in the second quarter. Allworth Financial LP now owns 1,929 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 1,581 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Compass Minerals International in the first quarter valued at $70,000. Institutional investors and hedge funds own 99.78% of the company’s stock.

About Compass Minerals International

Compass Minerals International (NYSE: CMP) produces essential minerals used in transportation, consumer and industrial markets, and agriculture. Its products include rock salt for highway deicing, as well as salt for consumer and industrial applications. The company also produces sulfate of potash, a specialty fertilizer used to support crop growth. Compass Minerals makes the product from resources at its Great Salt Lake operations in Utah. Compass Minerals’ salt operations include mines in Goderich, Ontario, and Winsford, England.