Compass Minerals downgraded to Hold from Buy at Loop Capital

Loop Capital downgraded Compass Minerals to Hold from Buy with a price target of $26, down from $29. The firm notes that its “cursory review” of weather forecasts for major metropolitan areas in the company’s core ice control markets over the next 15 days is “hardly encouraging”. Loop adds that its thesis had been that a normalization of both Compass’s EBITDA generation and the stock’s valuation multiple would depend on some cooperation from the weather, given the importance of ice control volumes to company’s operating model and financials, though “Mother Nature has not cooperated”.