Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $23.60 Average PT from Brokerages

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has earned a consensus recommendation of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $23.60.

Several analysts recently issued reports on CLMT shares. HC Wainwright reiterated a “buy” rating and set a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. TD Cowen lowered their target price on shares of Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Finally, UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $20.50 to $15.00 in a research report on Tuesday, February 4th.

Insider Transactions at Calumet Specialty Products Partners

In related news, Director Jennifer Straumins sold 37,861 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $21.42, for a total value of $810,982.62. Following the sale, the director now directly owns 1,184,589 shares in the company, valued at $25,373,896.38. This represents a 3.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.91% of the stock is owned by company insiders.

Calumet Specialty Products Partners Stock Down 6.1 %

Shares of CLMT stock opened at $13.46 on Friday. Calumet Specialty Products Partners has a 12-month low of $9.97 and a 12-month high of $25.29. The firm has a fifty day moving average of $17.98 and a 200-day moving average of $19.22. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -4.88 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 (EPS) for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. Calumet Specialty Products Partners’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.59) earnings per share. Research analysts expect that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

About Calumet Specialty Products Partners

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.