Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Rating of “Hold” from Analysts

Shares of Calumet, Inc. (NASDAQ:CLMT) have been assigned an average rating of “Hold” from the eight research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $22.8333.

A number of brokerages have commented on CLMT. TD Cowen reaffirmed a “hold” rating on shares of Calumet in a report on Thursday, January 29th. Wall Street Zen cut shares of Calumet from a “buy” rating to a “hold” rating in a research report on Sunday, December 14th. Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Calumet in a report on Monday, December 29th. Finally, UBS Group restated a “neutral” rating and set a $26.00 target price on shares of Calumet in a research report on Friday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Great Lakes Advisors LLC acquired a new position in shares of Calumet during the third quarter worth $3,088,000. Two Seas Capital LP increased its holdings in Calumet by 56.9% in the 2nd quarter. Two Seas Capital LP now owns 4,497,609 shares of the oil and gas company’s stock worth $70,860,000 after purchasing an additional 1,631,098 shares in the last quarter. Intech Investment Management LLC acquired a new position in Calumet in the 2nd quarter worth about $518,000. AYAL Capital Advisors Ltd bought a new position in Calumet in the second quarter valued at about $5,278,000. Finally, SP Asset Management LLC acquired a new stake in shares of Calumet during the second quarter valued at about $205,000. Institutional investors own 34.41% of the company’s stock.

Calumet Price Performance

Shares of Calumet stock opened at $28.61 on Friday. The business has a fifty day simple moving average of $21.25 and a two-hundred day simple moving average of $18.96. Calumet has a 1 year low of $7.68 and a 1 year high of $29.20. The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of -66.53 and a beta of 1.24.

About Calumet

Calumet Specialty Products Partners, L.P. (NASDAQ: CLMT) is an independent provider of high-value, essential product solutions derived from both petroleum and renewable feedstocks. The company operates an integrated network of manufacturing plants, blending terminals and storage facilities across North America, delivering customized products and technical services to industrial, automotive, consumer and agricultural end markets. By leveraging its scale and technical expertise, Calumet tailors supply chain and formulation solutions to meet stringent regulatory and performance requirements.

Calumet’s product portfolio includes specialty lubricants and base oils for high-performance applications; process oils and waxes for food-grade, cosmetic and packaging uses; industrial solvents and cleaning solutions; and fuel additives designed to optimize engine performance and emissions.