Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 4.6% - Still a Buy?

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) shot up 4.6% during trading on Monday . The company traded as high as $10.93 and last traded at $10.97. 38,669 shares traded hands during trading, a decline of 95% from the average session volume of 831,847 shares. The stock had previously closed at $10.48.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CLMT shares. Wells Fargo & Company lowered their price target on shares of Calumet Specialty Products Partners from $28.00 to $23.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. UBS Group upgraded Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $15.00 to $12.00 in a report on Monday, March 17th. HC Wainwright reiterated a "buy" rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd. Finally, TD Cowen downgraded Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and lowered their price target for the company from $26.00 to $16.00 in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.80.

Calumet Specialty Products Partners Stock Up 4.7 %

The firm's 50 day simple moving average is $11.90 and its 200 day simple moving average is $17.24. The company has a market cap of $942.80 million, a price-to-earnings ratio of -3.97 and a beta of 1.42.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.06) by $0.59. The business had revenue of $949.50 million during the quarter, compared to analysts' expectations of $921.76 million. During the same quarter in the previous year, the company earned ($0.59) EPS. Calumet Specialty Products Partners's revenue for the quarter was down 2.8% on a year-over-year basis. Analysts anticipate that Calumet Specialty Products Partners, L.P. will post -3.02 EPS for the current fiscal year.

Insider Activity

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.