Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Down 5.2% – Time to Sell?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT)’s stock price dropped 5.2% on Friday . The stock traded as low as $12.63 and last traded at $12.69. Approximately 412,451 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 684,999 shares. The stock had previously closed at $13.38.

Wall Street Analysts Forecast Growth

CLMT has been the subject of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. UBS Group raised shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. Wells Fargo & Company reduced their price target on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, TD Cowen downgraded shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.80.

Calumet Specialty Products Partners Stock Down 4.9 %

The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -4.61 and a beta of 1.88. The company’s 50-day moving average price is $15.37 and its 200-day moving average price is $18.62.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released 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 analyst estimates of $921.76 million. Calumet Specialty Products Partners’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.59) earnings per share. On average, sell-side analysts predict that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Transactions at Calumet Specialty Products Partners

In related news, CFO David Lunin purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the purchase, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.91% of the company’s stock.

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.