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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has earned a consensus rating of “Moderate Buy” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $23.60.

CLMT has been the subject of several analyst reports. UBS Group downgraded Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. TD Cowen dropped their target price on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, HC Wainwright reissued a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Wednesday, February 12th.

Calumet Specialty Products Partners Trading Down 4.3 %

Shares of NASDAQ CLMT opened at $14.33 on Friday. The stock has a 50 day simple moving average of $18.11 and a 200-day simple moving average of $19.21. The company has a market cap of $1.23 billion, a PE ratio of -5.19 and a beta of 1.88. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29.

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

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the transaction, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is owned by corporate insiders.

About Calumet Specialty Products Partners

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.