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

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been given a consensus rating of “Moderate Buy” by the five analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have covered the stock in the last year is $20.80.

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

Insiders Place Their Bets

In related news, Director Stephen P. Mawer sold 3,655 shares of the 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 in the company, valued at $3,700,514.16. This represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David Lunin purchased 2,500 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were bought at an average price of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the transaction, the chief financial officer now directly owns 2,500 shares in the company, valued at $32,625. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is owned by corporate insiders.

Calumet Specialty Products Partners Trading Down 2.2 %

CLMT stock opened at $13.16 on Wednesday. The firm has a 50 day simple moving average of $14.72 and a 200-day simple moving average of $18.49. The company has a market capitalization of $1.13 billion, a P/E ratio of -4.77 and a beta of 1.88. Calumet Specialty Products Partners has a twelve month low of $9.97 and a twelve month high of $25.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data 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 the consensus estimate of $921.76 million. During the same period in the prior year, the firm earned ($0.59) earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, research analysts predict that Calumet Specialty Products Partners will post -3.02 EPS 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.