Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) Receives $18.50 Consensus Target Price from Analysts

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $18.50.

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

Insider Buying and Selling at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, CFO David Lunin purchased 2,500 shares of the stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $13.05 per share, for a total transaction of $32,625.00. Following the completion of the acquisition, the chief financial officer now directly owns 2,500 shares of the company’s stock, valued at $32,625. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen P. Mawer sold 3,655 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $9.29, for a total value of $33,954.95. Following the sale, the director now directly owns 283,652 shares in the company, valued at approximately $2,635,127.08. This represents a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders own 2.91% of the company’s stock.

Calumet Specialty Products Partners Price Performance

CLMT stock opened at $13.82 on Thursday. The company has a 50 day moving average price of $11.43 and a 200 day moving average price of $16.23. Calumet Specialty Products Partners has a fifty-two week low of $7.68 and a fifty-two week high of $25.29. The stock has a market capitalization of $1.19 billion, a PE ratio of -5.01 and a beta of 0.89.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its earnings results on Friday, May 9th. The oil and gas company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.62). The firm had revenue of $993.90 million during the quarter, compared to the consensus estimate of $899.62 million. The business’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.51) earnings per share. As a group, equities analysts expect that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal 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.