Brokerages Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) PT at $18.50

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) has received an average rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of equities research analysts have recently commented on CLMT shares. The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Bank of America started coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday. They set a "buy" rating and a $15.00 price objective on the stock. UBS Group raised shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $15.00 to $12.00 in a research note on Monday, March 17th. TD Cowen cut shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $26.00 to $16.00 in a research note on Tuesday, March 4th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd.

Calumet Specialty Products Partners Price Performance

CLMT traded up $0.28 during trading on Thursday, reaching $13.73. 800,525 shares of the company's stock were exchanged, compared to its average volume of 894,837. Calumet Specialty Products Partners has a 1 year low of $7.68 and a 1 year high of $25.29. The stock has a market capitalization of $1.18 billion, a P/E ratio of -4.97 and a beta of 0.89. The company's fifty day simple moving average is $11.37 and its 200-day simple moving average is $16.35.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.41) by ($0.62). The firm had revenue of $993.90 million for the quarter, compared to analyst estimates of $899.62 million. Calumet Specialty Products Partners's revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.51) earnings per share. Equities analysts forecast that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insider Activity at Calumet Specialty Products Partners

In other news, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $12.88, for a total value of $47,076.40. Following the completion of the sale, the director now directly owns 287,307 shares in the company, valued at $3,700,514.16. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David Lunin purchased 2,500 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the purchase, the chief financial officer now owns 2,500 shares of the company's stock, valued at approximately $32,625. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 2.91% of the stock is owned by corporate insiders.

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.