Calumet Specialty Products Partners (NASDAQ:CLMT) upgraded by Zacks Investment Research to “Hold”
Zacks Investment Research enhanced actions of Calumet specialty product partners (NASDAQ: CLMT – Get a rating) from a sell rating to a hold rating in a research note to investors on Wednesday morning, Zacks.com reports.
According to Zacks, “Calumet Specialty Products Partners, LP is a leading independent producer of high quality specialty hydrocarbon products in North America. Calumet transforms crude oil into custom lubricating oils, solvents and waxes used in consumer, industrial and automotive products. The Company also manufactures petroleum products, including gasoline, diesel fuel and jet fuel. Calumet is based in Indianapolis, Indiana and has three factories located in northwest Louisiana. “
Other research analysts have also recently published research reports on the company. TheStreet downgraded Calumet Specialty Products Partners from a c- to a d+ rating in a Tuesday, April 5 report. HC Wainwright raised its price target on Calumet Specialty Products Partners from $19.00 to $28.00 and gave the company a Buy rating in a Monday, February 28 report. StockNews.com downgraded Calumet Specialty Products Partners from a hold rating to a sell rating in a report released Tuesday. Credit Suisse Group began covering Calumet Specialty Products Partners in a report on Thursday, January 6. They issued a neutral rating and a price target of $23.00 for the company. Finally, Wells Fargo & Company raised its price target on Calumet Specialty Products Partners from $27.00 to $29.00 and gave the stock an overweight rating in a Thursday, April 21 report. One equity research analyst gave the stock a sell rating, three issued a hold rating and four gave the company a buy rating. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $21.86.
Action CLMT opened at $15.74 on Wednesday. Calumet Specialty Products Partners has a 1-year low of $5.27 and a 1-year high of $17.43. The company has a market capitalization of $1.24 billion, a P/E ratio of -4.87 and a beta of 2.33. The stock has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $13.84.
Calumet specialty product partners (NASDAQ: CLMT – Get a rating) last released its quarterly results on Friday, February 25. The oil and gas company reported ($1.08) EPS for the quarter, missing analyst consensus estimates of ($0.35) by ($0.73). The company posted revenue of $865.80 million in the quarter, compared to $810.85 million expected by analysts. During the same period of the previous year, the company made ($1.03) earnings per share. As a group, research analysts expect Calumet Specialty Products Partners to post EPS of -0.96 for the current fiscal year.
Hedge funds and other institutional investors have recently changed their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Calumet Specialty Products Partners in Q4 for a value of approximately $42,000. Future Financial Wealth Managment LLC purchased a new stake in the shares of Calumet Specialty Products Partners in Q4 for a value of approximately $120,000. Dorsey Wright & Associates increased its equity stake in Calumet Specialty Products Partners by 15.7% in the fourth quarter. Dorsey Wright & Associates now owns 9,014 shares of the oil and gas company worth $119,000 after buying 1,224 more shares in the last quarter. Advisor Resource Council purchased a new stake in the shares of Calumet Specialty Products Partners in Q4 for a value of approximately $159,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in the shares of Calumet Specialty Products Partners in the 4th quarter for a value of approximately $200,000. 31.49% of the shares are currently held by institutional investors and hedge funds.
About Calumet Specialty Products Partners (Get a rating)
Calumet Specialty Products Partners, LP manufactures, formulates and markets a line of specialty branded products in various consumer and industrial markets in North America and internationally. Its Specialty Products and Solutions segment offers various solvents, waxes, custom lubricating oils, white oils, petrolatums, gels, esters and other products.
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