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

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

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group lowered their price objective on 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. UBS Group upgraded Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and lowered their price target for the company from $15.00 to $12.00 in a research report on Monday, March 17th. Wells Fargo & Company dropped their price objective on Calumet Specialty Products Partners from $23.00 to $21.00 and set an "overweight" rating for the company in a research note on Wednesday, May 14th. Bank of America assumed coverage on Calumet Specialty Products Partners in a report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price objective for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd.

Insider Buying and Selling

In other Calumet Specialty Products Partners 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 completion of the sale, the director now owns 1,084,589 shares in the company, valued at approximately $14,284,037.13. This trade represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total transaction of $33,954.95. Following the completion of the transaction, the director now directly owns 283,652 shares of the company's stock, valued at approximately $2,635,127.08. This represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 107,310 shares of company stock worth $1,398,031 in the last three months. Insiders own 4.07% of the company's stock.

Calumet Specialty Products Partners Stock Performance

Shares of CLMT stock traded up $0.02 during mid-day trading on Monday, reaching $14.17. The company's stock had a trading volume of 539,405 shares, compared to its average volume of 937,873. The firm's 50-day moving average is $11.88 and its two-hundred day moving average is $15.47. The company has a market cap of $1.22 billion, a P/E ratio of -5.13 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.

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

Calumet Specialty Products Partners Company Profile

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.