Capital Product Partners L.P. (CPLP) Receives $4.75 Consensus Price Target from Brokerages

Capital Product Partners L.P. (NASDAQ:CPLP) has been assigned a consensus recommendation of “Hold” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $4.75.

CPLP has been the subject of several analyst reports. ValuEngine lowered shares of Capital Product Partners L.P. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. UBS AG restated a “buy” rating and set a $4.50 price target on shares of Capital Product Partners L.P. in a research report on Thursday, July 6th. Zacks Investment Research downgraded shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research note on Wednesday, September 27th. BidaskClub downgraded shares of Capital Product Partners L.P. from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. Finally, TheStreet raised shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th.

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Large investors have recently modified their holdings of the company. Stifel Financial Corp raised its stake in shares of Capital Product Partners L.P. by 31.4% during the first quarter. Stifel Financial Corp now owns 28,050 shares of the shipping company’s stock valued at $100,000 after acquiring an additional 6,696 shares during the last quarter. Fiduciary Financial Services of The Southwest Inc. TX bought a new position in shares of Capital Product Partners L.P. during the second quarter valued at about $106,000. Russell Investments Group Ltd. bought a new position in shares of Capital Product Partners L.P. during the second quarter valued at about $111,000. Citadel Advisors LLC raised its stake in shares of Capital Product Partners L.P. by 60.6% during the second quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock valued at $147,000 after acquiring an additional 16,318 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in shares of Capital Product Partners L.P. during the second quarter valued at about $150,000. 17.57% of the stock is owned by hedge funds and other institutional investors.

Capital Product Partners L.P. (NASDAQ:CPLP) remained flat at $3.51 on Friday. The stock had a trading volume of 183,370 shares. Capital Product Partners L.P. has a 12-month low of $2.73 and a 12-month high of $4.00. The firm’s 50-day moving average price is $3.53 and its 200-day moving average price is $3.51. The firm has a market cap of $433.94 million, a P/E ratio of 11.98 and a beta of 1.63.

Capital Product Partners L.P. (NASDAQ:CPLP) last posted its quarterly earnings results on Friday, July 28th. The shipping company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%. The business had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $59.47 million. On average, equities analysts forecast that Capital Product Partners L.P. will post $0.26 earnings per share for the current year.

About Capital Product Partners L.P.

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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