Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $20.80 Consensus Price Target from Analysts

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $20.80.

Several analysts have recently commented on the stock. UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. TD Cowen lowered Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price objective for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. Wells Fargo & Company dropped their target price on Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd.

Insider Buying and Selling

In other news, CFO David Lunin purchased 2,500 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the company’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the transaction, the director now directly owns 287,307 shares in the company, valued at $3,700,514.16. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.91% of the company’s stock.

Calumet Specialty Products Partners Stock Performance

Shares of NASDAQ:CLMT opened at $12.73 on Wednesday. Calumet Specialty Products Partners has a one year low of $9.97 and a one year high of $25.29. The company has a 50-day simple moving average of $14.54 and a 200-day simple moving average of $18.43. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of -4.61 and a beta of 1.88.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.59) earnings per share. As a group, research analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal 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.