Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have received a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.80.

CLMT has been the subject of a number of recent research reports. Wells Fargo & Company cut their price objective on Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. TD Cowen lowered shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their price target for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $12.00 in a research report on Monday, March 17th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd.

Calumet Specialty Products Partners Price Performance

Shares of CLMT stock opened at $12.23 on Wednesday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of -4.43 and a beta of 1.88. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The firm has a fifty day moving average price of $15.05 and a 200-day moving average price of $18.55.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.59) EPS. Equities research analysts expect that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In related news, CFO David Lunin acquired 2,500 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 2.91% of the stock is currently owned by corporate insiders.

Calumet Specialty Products Partners Company Profile

Calumet, Inc engages in the manufacturing, formulating, and marketing of a diversified slate of specialty branded products and renewable fuels to customers across a broad range of consumer-facing and industrial markets. It operates through the following segments: Specialty Products & Solutions, Performance Brands, Montana/Renewables, and Corporate.