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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMTGet Rating) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.50.

A number of equities research analysts have issued reports on CLMT shares. The Goldman Sachs Group raised shares of Calumet Specialty Products Partners from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $23.00 in a report on Thursday, August 18th. Cowen lifted their target price on shares of Calumet Specialty Products Partners from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, June 28th.

Calumet Specialty Products Partners Stock Down 0.4 %

Shares of Calumet Specialty Products Partners stock opened at $16.57 on Monday. The firm has a market cap of $1.31 billion, a PE ratio of -9.15 and a beta of 2.05. Calumet Specialty Products Partners has a 12-month low of $7.07 and a 12-month high of $18.47. The company’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $13.80.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, CEO Louis Todd Borgmann bought 7,095 shares of Calumet Specialty Products Partners stock in a transaction on Monday, August 29th. The stock was acquired at an average price of $17.62 per share, with a total value of $125,013.90. Following the acquisition, the chief executive officer now owns 69,391 shares in the company, valued at $1,222,669.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Stephen P. Mawer purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $16.38 per share, for a total transaction of $81,900.00. Following the purchase, the chairman now directly owns 146,554 shares in the company, valued at approximately $2,400,554.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Louis Todd Borgmann purchased 7,095 shares of the company’s stock in a transaction dated Monday, August 29th. The stock was purchased at an average price of $17.62 per share, for a total transaction of $125,013.90. Following the completion of the purchase, the chief executive officer now owns 69,391 shares in the company, valued at $1,222,669.42. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 42,268 shares of company stock valued at $691,954. Corporate insiders own 2.91% of the company’s stock.

Hedge Funds Weigh In On Calumet Specialty Products Partners

A number of institutional investors and hedge funds have recently modified their holdings of CLMT. Acadian Asset Management LLC purchased a new position in shares of Calumet Specialty Products Partners in the 4th quarter worth $42,000. Worth Asset Management LLC purchased a new position in Calumet Specialty Products Partners during the first quarter valued at $54,000. BNP Paribas Arbitrage SA purchased a new position in Calumet Specialty Products Partners during the second quarter valued at $76,000. Covestor Ltd purchased a new position in Calumet Specialty Products Partners during the first quarter valued at $77,000. Finally, Advisor Resource Council purchased a new position in Calumet Specialty Products Partners during the second quarter valued at $125,000. 20.43% of the stock is currently owned by hedge funds and other institutional investors.

About Calumet Specialty Products Partners

(Get Rating)

Calumet Specialty Products Partners LP engages in the production of specialty hydrocarbon products. It operates through the following segments: Specialty Products, Fuel Products and Corporate. The Specialty Products segment produces lubricating oils, solvents, waxes, synthetic lubricants and other products.

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

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