Calumet, Inc. (NASDAQ:CLMT) Given Average Rating of "Hold" by Analysts

Key Points

• Calumet, Inc. has received an average analyst rating of "Hold", with two sell ratings, two hold ratings, and four buy ratings from eight analysts covering the stock.
• The company's latest earnings report showed a miss in earnings per share at ($1.70), significantly below the consensus estimate of ($0.44), despite revenue exceeding expectations at $1.03 billion.
• Analysts anticipate Calumet will post a -3.02 EPS for the current year, indicating ongoing financial challenges after a 9.4% decrease in year-over-year revenue.

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) has been given an average recommendation of "Hold" by the eight analysts that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.7083.

A number of analysts recently weighed in on CLMT shares. UBS Group boosted their target price on Calumet from $12.00 to $13.25 and gave the stock a "neutral" rating in a research report on Tuesday, August 12th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Calumet in a research note on Wednesday. Finally, Zacks Research cut Calumet from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 7th.

Calumet Price Performance

NASDAQ:CLMT opened at $17.68 on Friday. The business has a 50 day moving average of $16.76 and a 200 day moving average of $14.72. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of -3.39 and a beta of 0.98. Calumet has a 1-year low of $7.68 and a 1-year high of $25.29.

Calumet (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, August 8th. The oil and gas company reported ($1.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($1.26). The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $982.88 million. Calumet's revenue was down 9.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.48) EPS. As a group, sell-side analysts anticipate that Calumet will post -3.02 EPS for the current year.

Hedge Funds Weigh In On Calumet

A number of large investors have recently bought and sold shares of the stock. Premier Path Wealth Partners LLC increased its stake in Calumet by 11.4% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 12,853 shares of the oil and gas company's stock worth $202,000 after purchasing an additional 1,320 shares during the period. University of Texas Texas AM Investment Management Co. increased its stake in Calumet by 109.4% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 3,350 shares of the oil and gas company's stock worth $53,000 after purchasing an additional 1,750 shares during the period. Amalgamated Bank purchased a new position in Calumet in the 2nd quarter worth approximately $37,000. O Keefe Stevens Advisory Inc. increased its stake in Calumet by 12.1% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company's stock worth $423,000 after purchasing an additional 2,903 shares during the period. Finally, California State Teachers Retirement System increased its stake in Calumet by 7.3% in the 2nd quarter. California State Teachers Retirement System now owns 63,529 shares of the oil and gas company's stock worth $1,001,000 after purchasing an additional 4,304 shares during the period. 34.41% of the stock is owned by hedge funds and other institutional investors.

About Calumet

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.

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