Calumet, Inc. (NASDAQ:CLMT) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Calumet, Inc. has a consensus rating of "Moderate Buy" from six research firms, with four analysts recommending a buy and two suggesting a hold.
• The average 12-month price target for Calumet stock is $18.71, with current shares opening at $15.95.
• In its latest earnings report, Calumet missed the EPS estimate by $1.26, reporting a loss of ($1.70) per share despite exceeding revenue expectations.

Calumet, Inc. (NASDAQ:CLMT - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the six research firms that are presently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.7083.

Several equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Calumet in a report on Tuesday, May 13th. They issued a "buy" rating and a $15.00 price target on the stock. UBS Group upped their target price on shares of Calumet from $12.00 to $13.25 and gave the stock a "neutral" rating in a report on Tuesday, August 12th. The Goldman Sachs Group lowered their target price on shares of Calumet from $16.00 to $14.00 and set a "buy" rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company lowered their target price on shares of Calumet from $23.00 to $21.00 and set an "overweight" rating on the stock in a report on Wednesday, May 14th.

Calumet Price Performance

Shares of Calumet stock opened at $15.95 on Friday. The firm has a market capitalization of $1.38 billion, a PE ratio of -3.06 and a beta of 0.91. The company's fifty day moving average price is $15.73 and its two-hundred day moving average price is $13.83. Calumet has a 52-week low of $7.68 and a 52-week high of $25.29.

Calumet (NASDAQ:CLMT - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The oil and gas company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($1.26). The business had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $982.88 million. Calumet's revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.48) earnings per share. Analysts predict that Calumet will post -3.02 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jennifer Straumins sold 100,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.17, for a total value of $1,317,000.00. Following the transaction, the director owned 1,084,589 shares of the company's stock, valued at approximately $14,284,037.13. This trade represents a 8.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Gregory J. Morical sold 25,123 shares of the firm's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $16.69, for a total transaction of $419,302.87. Following the completion of the transaction, the senior vice president directly owned 39,415 shares in the company, valued at $657,836.35. This trade represents a 38.93% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 275,123 shares of company stock worth $4,113,303. 4.07% of the stock is owned by corporate insiders.

Institutional Trading of Calumet

Hedge funds have recently modified their holdings of the company. Amalgamated Bank bought a new stake in Calumet during the 2nd quarter worth approximately $37,000. University of Texas Texas AM Investment Management Co. increased its stake in Calumet by 109.4% during 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 in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Calumet during the 2nd quarter worth approximately $111,000. Premier Path Wealth Partners LLC increased its stake in Calumet by 11.4% during 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 in the last quarter. Finally, SP Asset Management LLC bought a new position in shares of Calumet during the 2nd quarter worth approximately $205,000. 34.41% of the stock is currently owned by institutional investors and hedge funds.

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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