Brokerages Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Target Price at $20.80

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been assigned an average rating of “Moderate Buy” from the five research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.80.

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

Insider Activity

In related news, CFO David Lunin purchased 2,500 shares of Calumet Specialty Products Partners stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.05 per share, with a total value of $32,625.00. Following the transaction, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at approximately $32,625. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of Calumet Specialty Products Partners stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $12.88, for a total value of $47,076.40. Following the completion of the transaction, the director now owns 287,307 shares of the company’s stock, valued at $3,700,514.16. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.91% of the company’s stock.

Calumet Specialty Products Partners Trading Down 2.2 %

Shares of CLMT stock opened at $13.16 on Wednesday. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29. The company’s 50-day moving average price is $14.72 and its 200-day moving average price is $18.45. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -4.77 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($1.06) by $0.59. The firm had revenue of $949.50 million during the quarter, compared to analyst estimates of $921.76 million. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.59) earnings per share. As a group, equities research analysts predict that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Calumet Specialty Products Partners Company Profile

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.