Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price target on Calumet Specialty Products Partners from $16.00 to $14.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. HC Wainwright reissued a "buy" rating and issued a $33.00 price objective on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. TD Cowen cut shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and decreased their target price for the company from $26.00 to $16.00 in a research note on Tuesday, March 4th. Bank of America began coverage on shares of Calumet Specialty Products Partners in a research report on Tuesday, May 13th. They set a "buy" rating and a $15.00 price target on the stock. Finally, UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and cut their price target for the company from $15.00 to $12.00 in a research note on Monday, March 17th.

Calumet Specialty Products Partners Stock Down 2.0%

CLMT traded down $0.27 during trading hours on Monday, hitting $13.17. 536,368 shares of the company's stock were exchanged, compared to its average volume of 935,128. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of -4.77 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. The stock's 50-day moving average is $11.75 and its two-hundred day moving average is $15.55.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last posted 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 the consensus estimate of $899.62 million. Calumet Specialty Products Partners's revenue was down 1.2% on a year-over-year basis. During the same period last year, the company posted ($0.51) EPS. On average, equities research analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current year.

Insiders Place Their Bets

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the 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 now directly owns 1,084,589 shares of the company's stock, valued at $14,284,037.13. This represents a 8.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the firm's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total transaction of $33,954.95. Following the sale, the director now owns 283,652 shares of the company's stock, valued at $2,635,127.08. This trade represents a 1.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,310 shares of company stock valued at $1,398,031 over the last ninety days. 4.07% of the stock is currently owned by company insiders.

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.