UBS Group Upgrades Calumet Specialty Products Partners (NASDAQ:CLMT) to “Neutral”

Calumet Specialty Products Partners (NASDAQ:CLMT) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a research note issued on Monday, Marketbeat Ratings reports. The brokerage presently has a $12.00 target price on the oil and gas company’s stock, down from their previous target price of $15.00. UBS Group’s price objective indicates a potential downside of 6.61% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company decreased their price target on Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. 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. StockNews.com raised Calumet Specialty Products Partners to a “sell” rating in a research report on Monday, November 18th. Finally, TD Cowen lowered Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and cut their target price for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.80.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ:CLMT opened at $12.85 on Monday. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The stock has a market capitalization of $1.10 billion, a P/E ratio of -4.66 and a beta of 1.88. The stock has a 50-day simple moving average of $15.88 and a 200-day simple moving average of $18.72.

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

Insider Activity

In other Calumet Specialty Products Partners news, CFO David Lunin acquired 2,500 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $13.05 per share, with a total value of $32,625.00. Following the purchase, the chief financial officer now owns 2,500 shares in the company, valued at approximately $32,625. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.91% of the stock is currently owned by company insiders.

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.