Calumet Specialty Products Partners (NASDAQ:CLMT) Raised to “Hold” at StockNews.com

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research analysts also recently weighed in on the stock. Credit Suisse Group began coverage on shares of Calumet Specialty Products Partners in a research report on Thursday, January 6th. They issued a “neutral” rating and a $23.00 target price for the company. Wells Fargo & Company raised their target price on shares of Calumet Specialty Products Partners from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Thursday, April 21st. TheStreet downgraded shares of Calumet Specialty Products Partners from a “c-” rating to a “d+” rating in a research report on Tuesday, April 5th. HC Wainwright increased their price target on shares of Calumet Specialty Products Partners from $19.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, February 28th. Finally, Zacks Investment Research upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “hold” rating and set a $16.00 price target for the company in a research note on Wednesday, April 27th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Buy” and a consensus target price of $22.43.

Shares of CLMT stock opened at $15.18 on Wednesday. The firm has a fifty day moving average of $14.12 and a 200-day moving average of $13.97. Calumet Specialty Products Partners has a 12-month low of $5.27 and a 12-month high of $17.43. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.70 and a beta of 2.15.

Calumet Specialty Products Partners (NASDAQ:CLMTGet Rating) last issued its quarterly earnings data on Friday, February 25th. The oil and gas company reported ($1.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by ($0.73). The firm had revenue of $865.80 million for the quarter, compared to the consensus estimate of $810.85 million. During the same period last year, the company earned ($1.03) earnings per share. As a group, sell-side analysts predict that Calumet Specialty Products Partners will post -0.96 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in CLMT. Knott David M increased its position in Calumet Specialty Products Partners by 13.1% during the third quarter. Knott David M now owns 3,567,500 shares of the oil and gas company’s stock worth $28,219,000 after acquiring an additional 414,200 shares during the period. Barclays PLC increased its position in Calumet Specialty Products Partners by 16,848.0% during the third quarter. Barclays PLC now owns 137,109 shares of the oil and gas company’s stock worth $1,085,000 after acquiring an additional 136,300 shares during the period. Adams Asset Advisors LLC increased its position in Calumet Specialty Products Partners by 1.4% during the fourth quarter. Adams Asset Advisors LLC now owns 5,222,003 shares of the oil and gas company’s stock worth $68,930,000 after acquiring an additional 72,785 shares during the period. Raymond James & Associates increased its position in Calumet Specialty Products Partners by 39.5% during the third quarter. Raymond James & Associates now owns 211,061 shares of the oil and gas company’s stock worth $1,669,000 after acquiring an additional 59,809 shares during the period. Finally, Bank of Montreal Can bought a new position in Calumet Specialty Products Partners during the fourth quarter worth about $760,000. 25.70% of the stock is currently owned by institutional investors and hedge funds.

Calumet Specialty Products Partners Company Profile (Get Rating)

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets slate of specialty branded products to various consumer-facing and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, customized lubricating oils, white oils, petrolatums, gels, esters, and other products.

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Analyst Recommendations for Calumet Specialty Products Partners (NASDAQ:CLMT)

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