Compass Minerals International (NYSE:CMP) Reaches New 52-Week High – Time to Buy?

Compass Minerals International, Inc. (NYSE:CMP)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $23.10 and last traded at $22.6790, with a volume of 979906 shares. The stock had previously closed at $20.85.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CMP shares. Compass Point set a $22.00 target price on Compass Minerals International in a research report on Tuesday, December 16th. BMO Capital Markets raised their price target on Compass Minerals International from $20.00 to $25.00 and gave the company a “market perform” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft lowered their price target on Compass Minerals International from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, December 11th. Zacks Research raised Compass Minerals International from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Loop Capital set a $24.00 target price on shares of Compass Minerals International in a research note on Tuesday, December 30th. One equities 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 stock currently has a consensus rating of “Reduce” and an average price target of $22.00.

Compass Minerals International Stock Up 0.9%

The stock has a market cap of $937.19 million, a P/E ratio of -11.67 and a beta of 1.17. The firm has a 50 day simple moving average of $18.84 and a 200-day simple moving average of $19.33. The company has a quick ratio of 0.98, a current ratio of 2.15 and a debt-to-equity ratio of 3.55.

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 analyst estimates of $223.72 million. During the same period in the previous year, the firm posted ($0.77) earnings per share. The firm’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts forecast that Compass Minerals International, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Trading of Compass Minerals International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. O Keefe Stevens Advisory Inc. grew its stake in Compass Minerals International by 4.2% in the 4th quarter. O Keefe Stevens Advisory Inc. now owns 593,887 shares of the basic materials company’s stock valued at $11,664,000 after buying an additional 23,860 shares during the last quarter. Nomura Holdings Inc. boosted its holdings in shares of Compass Minerals International by 48.5% during the third quarter. Nomura Holdings Inc. now owns 382,093 shares of the basic materials company’s stock worth $7,336,000 after acquiring an additional 124,874 shares during the period. Millennium Management LLC grew its position in shares of Compass Minerals International by 379.4% in the third quarter. Millennium Management LLC now owns 522,108 shares of the basic materials company’s stock valued at $10,024,000 after purchasing an additional 413,205 shares during the last quarter. Gotham Asset Management LLC increased its stake in shares of Compass Minerals International by 22.4% during the third quarter. Gotham Asset Management LLC now owns 54,303 shares of the basic materials company’s stock worth $1,043,000 after purchasing an additional 9,944 shares during the period. Finally, Algert Global LLC increased its stake in shares of Compass Minerals International by 149.4% during the third quarter. Algert Global LLC now owns 36,590 shares of the basic materials company’s stock worth $703,000 after purchasing an additional 21,920 shares during the period. Institutional investors own 99.78% of the company’s stock.

Compass Minerals International Company Profile

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.