Capital Product Partners L.P. (CPLP) Rating Lowered to Strong Sell at BidaskClub
Capital Product Partners L.P. (NASDAQ:CPLP) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.
Several other research analysts also recently commented on the company. TheStreet upgraded Capital Product Partners L.P. from a “c” rating to a “b-” rating in a report on Thursday, August 17th. UBS AG reiterated a “neutral” rating and issued a $4.00 price objective (down previously from $4.50) on shares of Capital Product Partners L.P. in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $4.40.
Capital Product Partners L.P. (NASDAQ CPLP) opened at 3.48 on Thursday. Capital Product Partners L.P. has a one year low of $2.73 and a one year high of $4.00.
Capital Product Partners L.P. (NASDAQ:CPLP) last released its quarterly earnings data on Friday, July 28th. The shipping company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.02. The company had revenue of $62.06 million during the quarter, compared to analysts’ expectations of $59.47 million. Capital Product Partners L.P. had a return on equity of 4.95% and a net margin of 18.20%. Equities analysts predict that Capital Product Partners L.P. will post $0.27 EPS for the current fiscal year.
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Hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP boosted its stake in Capital Product Partners L.P. by 354.2% in the second quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock valued at $497,000 after buying an additional 114,028 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Capital Product Partners L.P. by 0.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock valued at $225,000 after buying an additional 523 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Capital Product Partners L.P. during the second quarter valued at about $3,202,000. Citadel Advisors LLC boosted its stake in Capital Product Partners L.P. by 60.6% in the second quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock valued at $147,000 after buying an additional 16,318 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Capital Product Partners L.P. during the second quarter valued at about $237,000. 18.72% of the stock is currently owned by institutional investors.
Capital Product Partners L.P. Company Profile
Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.
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