Calumet, Inc. (NASDAQ:CLMT) Receives $18.50 Consensus Price Target from Analysts

Shares of Calumet, Inc. (NASDAQ:CLMT - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the six ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.50.

A number of brokerages recently issued reports on CLMT. UBS Group raised Calumet from a "sell" rating to a "neutral" rating and decreased their price target for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. Bank of America began coverage on Calumet in a research note on Tuesday, May 13th. They set a "buy" rating and a $15.00 price target for the company. The Goldman Sachs Group decreased their price target on Calumet from $16.00 to $14.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. Finally, Wells Fargo & Company decreased their price target on Calumet from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th.

Insider Buying and Selling at Calumet

In other Calumet news, SVP Gregory J. Morical sold 25,123 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $16.69, for a total value of $419,302.87. Following the completion of the sale, the senior vice president directly owned 39,415 shares in the company, valued at $657,836.35. This represents a 38.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jennifer Straumins sold 100,000 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $16.23, for a total value of $1,623,000.00. Following the completion of the sale, the director owned 934,589 shares of the company's stock, valued at approximately $15,168,379.47. The trade was a 9.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 278,778 shares of company stock valued at $4,147,258. Company insiders own 4.07% of the company's stock.

Hedge Funds Weigh In On Calumet

A hedge fund recently raised its stake in Calumet stock. Goldman Sachs Group Inc. boosted its position in shares of Calumet, Inc. (NASDAQ:CLMT - Free Report) by 33.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,269 shares of the oil and gas company's stock after acquiring an additional 116,777 shares during the quarter. Goldman Sachs Group Inc. owned 0.54% of Calumet worth $5,900,000 at the end of the most recent quarter. 34.41% of the stock is currently owned by institutional investors and hedge funds.

Calumet Price Performance

Shares of NASDAQ:CLMT traded up $0.36 during trading on Friday, hitting $16.70. 1,048,786 shares of the company's stock were exchanged, compared to its average volume of 1,042,207. Calumet has a 52-week low of $7.68 and a 52-week high of $25.29. The business's 50-day simple moving average is $14.02 and its 200 day simple moving average is $14.77. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -4.18 and a beta of 0.93.

Calumet (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The oil and gas company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The business had revenue of $993.90 million during the quarter, compared to analyst estimates of $899.62 million. Calumet's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.51) EPS. On average, sell-side analysts anticipate that Calumet will post -3.02 EPS for the current fiscal year.

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.