Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Given Consensus Rating of “Moderate Buy” by Analysts

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $20.80.

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

Calumet Specialty Products Partners Stock Down 3.5 %

Shares of CLMT opened at $12.23 on Wednesday. The stock has a market cap of $1.05 billion, a P/E ratio of -4.43 and a beta of 1.88. The business’s 50 day moving average price is $15.05 and its 200-day moving average price is $18.55. Calumet Specialty Products Partners has a 52 week low of $9.97 and a 52 week high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, topping the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million during the quarter, compared to the consensus estimate of $921.76 million. During the same period last year, the firm posted ($0.59) earnings per share. The company’s revenue was down 2.8% compared to the same quarter last year. On average, equities analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Activity

In other news, CFO David Lunin acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was bought at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.