CSI Compressco LP (CCLP) Upgraded to Buy by Zacks Investment Research
CSI Compressco LP (NASDAQ:CCLP) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $12.00 target price on the stock. Zacks Investment Research’s price target would indicate a potential upside of 14.83% from the stock’s current price.
According to Zacks, “CSI Compressco LP offers compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. Its equipment and parts sales business includes the fabrication and sale of standard compressor packages, custom-designed compressor packages and engine-driven oilfield fluid pump systems designed. The company offers well monitoring and automated sand separation services as well as compressor package reconfiguration and maintenance services. CSI Compressco LP, formerly known as Compressco Partners, L.P., is headquartered in Oklahoma City. “
Separately, Janney Montgomery Scott upgraded shares of CSI Compressco from a “neutral” rating to a “buy” rating and boosted their target price for the company from $10.00 to $12.00 in a report on Friday, September 23rd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.25.
Shares of CSI Compressco (NASDAQ:CCLP) traded up 0.77% during midday trading on Wednesday, hitting $10.53. 76,298 shares of the stock were exchanged. The firm’s market cap is $349.88 million. CSI Compressco has a 12-month low of $3.74 and a 12-month high of $15.27. The firm has a 50 day moving average of $9.84 and a 200 day moving average of $8.53.
CSI Compressco (NASDAQ:CCLP) last posted its quarterly earnings data on Friday, August 5th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by $0.03. The firm earned $76.10 million during the quarter, compared to analyst estimates of $81.70 million. CSI Compressco had a negative net margin of 67.25% and a negative return on equity of 6.41%. Equities analysts forecast that CSI Compressco will post ($0.37) EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the company. WealthTrust Axiom LLC increased its stake in CSI Compressco by 1.5% in the second quarter. WealthTrust Axiom LLC now owns 195,800 shares of the company’s stock valued at $1,597,000 after buying an additional 2,850 shares in the last quarter. Mariner Wealth Advisors LLC increased its stake in CSI Compressco by 23.6% in the second quarter. Mariner Wealth Advisors LLC now owns 68,000 shares of the company’s stock valued at $555,000 after buying an additional 13,000 shares in the last quarter. KCG Holdings Inc. acquired a new stake in CSI Compressco during the second quarter valued at about $179,000. GSA Capital Partners LLP acquired a new stake in CSI Compressco during the second quarter valued at about $243,000. Finally, Renaissance Technologies LLC acquired a new stake in CSI Compressco during the first quarter valued at about $328,000. Institutional investors own 29.01% of the company’s stock.
CSI Compressco Company Profile
CSI Compressco LP, formerly Compressco Partners, L.P., is a provider of compression services and equipment for natural gas and oil production, gathering, transportation, processing and storage. The Company sells custom-designed compressor packages and oilfield fluid pump systems, and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers.
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