Calumet Specialty Products Partners (NASDAQ:CLMT) Receives Buy Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Calumet Specialty Products Partners (NASDAQ:CLMT) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $25.00 price objective on the oil and gas company’s stock.

Other equities analysts have also recently issued research reports about the stock. StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research note on Monday. They set a hold rating for the company. The Goldman Sachs Group reduced their price target on shares of Calumet Specialty Products Partners from $19.00 to $17.00 and set a buy rating for the company in a research report on Thursday, March 21st.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ CLMT opened at $15.37 on Monday. Calumet Specialty Products Partners has a fifty-two week low of $11.91 and a fifty-two week high of $19.91. The stock has a market cap of $1.23 billion, a PE ratio of 19.45 and a beta of 1.76. The stock has a fifty day moving average of $15.40 and a 200-day moving average of $15.96.

Calumet Specialty Products Partners (NASDAQ:CLMT) last issued its earnings results on Friday, February 23rd. The oil and gas company reported ($0.59) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.40). The business had revenue of $976.50 million during the quarter, compared to analyst estimates of $856.71 million. During the same period in the prior year, the company posted ($0.21) EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, sell-side analysts predict that Calumet Specialty Products Partners will post -0.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of CLMT. ICA Group Wealth Management LLC purchased a new stake in Calumet Specialty Products Partners in the fourth quarter valued at approximately $116,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $119,000. PFG Investments LLC purchased a new stake in shares of Calumet Specialty Products Partners during the 1st quarter valued at $155,000. Sapient Capital LLC bought a new stake in shares of Calumet Specialty Products Partners during the 4th quarter worth $188,000. Finally, Advisor Resource Council purchased a new position in Calumet Specialty Products Partners in the fourth quarter worth $216,000. Hedge funds and other institutional investors own 34.41% of the company’s stock.

About Calumet Specialty Products Partners

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.