Compass Minerals International Inc. (CMP) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Compass Minerals International Inc. (NYSE:CMP) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The firm currently has $82.00 price target on the stock.
According to Zacks, “Compass Minerals is the largest producer of rock, or highway deicing, salt in North America and the United Kingdom and operates the largest highway deicing salt mines in these regions. The company is also the third largest producer of general trade salt in North America and the second largest in the United Kingdom, serving major retailers, agricultural cooperatives and food producers. In addition, Compass is the largest producer of sulfate of potash in North America, which is used in the production of specialty fertilizers. “
Several other equities research analysts have also weighed in on the company. TheStreet lowered Compass Minerals International from a buy rating to a hold rating in a research report on Monday, July 25th. Stifel Nicolaus began coverage on Compass Minerals International in a report on Tuesday, July 12th. They set a buy rating and a $90.00 price target on the stock. Finally, KeyCorp lowered Compass Minerals International from an overweight rating to a sector weight rating in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $76.25.
Compass Minerals International (NYSE:CMP) opened at 73.03 on Tuesday. The firm has a 50-day moving average of $73.25 and a 200-day moving average of $73.99. The stock has a market capitalization of $2.47 billion, a price-to-earnings ratio of 17.56 and a beta of 0.62. Compass Minerals International has a 12-month low of $66.30 and a 12-month high of $86.00.
Compass Minerals International (NYSE:CMP) last issued its earnings results on Monday, July 25th. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Compass Minerals International had a return on equity of 21.37% and a net margin of 13.63%. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $177.56 million. During the same period last year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was down 7.7% on a year-over-year basis. Equities research analysts forecast that Compass Minerals International will post $2.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, September 1st were issued a dividend of $0.695 per share. This represents a $2.78 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Tuesday, August 30th. Compass Minerals International’s payout ratio is currently 66.83%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Americafirst Capital Management LLC bought a new position in Compass Minerals International during the second quarter worth $108,000. IFP Advisors Inc raised its position in Compass Minerals International by 470.5% in the first quarter. IFP Advisors Inc now owns 1,626 shares of the company’s stock worth $115,000 after buying an additional 1,341 shares during the period. Pacad Investment Ltd. bought a new position in Compass Minerals International during the second quarter worth $148,000. LS Investment Advisors LLC raised its position in Compass Minerals International by 76.4% in the second quarter. LS Investment Advisors LLC now owns 2,050 shares of the company’s stock worth $152,000 after buying an additional 888 shares during the period. Finally, Highbridge Capital Management LLC bought a new position in Compass Minerals International during the second quarter worth $210,000.
About Compass Minerals International
Compass Minerals International, Inc is a holding company. The Company, through its subsidiaries, is engaged in producing and marketing essential minerals, including salt, sulfate of potash (SOP) specialty fertilizer, magnesium chloride and micronutrients. It operates through two segments, which include salt and plant nutrition.
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