Calumet Specialty Products Partners (NASDAQ:CLMT) Stock Price Up 4.6% - Still a Buy?
Calumet Specialty Products Partners (NASDAQ:CLMT) shares rose 4.6% to $10.97, despite a significant drop in trading volume. Analysts have mixed opinions, with Wells Fargo lowering its price target to $23.00, while HC Wainwright maintains a buy rating with a target of $33.00. The company reported a quarterly EPS of ($0.47), beating estimates, but revenue declined 2.8% year-over-year. Insider trading activity includes CFO David Lunin purchasing shares, while Director Stephen P. Mawer sold some of his holdings. The stock has a consensus rating of "Hold" and a target price of $19.80.
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
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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.
View Our Latest Analysis on CLMT
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
(Get Free Report)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.
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