Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Average Rating of “Moderate Buy” from Brokerages

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.50.

Several equities research analysts have commented on the company. UBS Group raised Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $12.00 in a report on Monday, March 17th. The Goldman Sachs Group reduced their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Wednesday, April 30th. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and decreased their target price for the stock from $26.00 to $16.00 in a report on Tuesday, March 4th. Bank of America assumed coverage on shares of Calumet Specialty Products Partners in a report on Tuesday, May 13th. They set a “buy” rating and a $15.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd.

Calumet Specialty Products Partners Trading Up 6.8%

Calumet Specialty Products Partners stock opened at $15.13 on Monday. The firm has a market cap of $1.30 billion, a P/E ratio of -5.48 and a beta of 0.91. Calumet Specialty Products Partners has a 1-year low of $7.68 and a 1-year high of $25.29. The firm has a 50-day moving average of $12.09 and a 200-day moving average of $15.37.

Calumet Specialty Products Partners (NASDAQ:CLMT) last posted its earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analysts’ expectations of $899.62 million. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the company posted ($0.51) earnings per share. Research analysts forecast that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.17, for a total transaction of $1,317,000.00. Following the completion of the sale, the director now directly owns 1,084,589 shares in the company, valued at approximately $14,284,037.13. The trade was a 8.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $12.88, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 107,310 shares of company stock worth $1,398,031. Company insiders own 4.07% of the company’s stock.

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.