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Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $34.90 price objective on the stock. Zacks‘s target price suggests a potential upside of 10.93% from the stock’s previous close.

Shares of Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) traded down 1.53% during mid-day trading on Tuesday, hitting $31.46. 349,001 shares of the company’s stock traded hands. Calumet Specialty Products Partners, L.P has a 52 week low of $24.23 and a 52 week high of $35.14. The stock’s 50-day moving average is $31.53 and its 200-day moving average is $28.54. The company’s market cap is $2.181 billion.

Calumet Specialty Products Partners, L.P (NASDAQ:CLMT) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.50 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.09 by $0.41. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.23 billion. Analysts expect that Calumet Specialty Products Partners, L.P will post $0.79 EPS for the current fiscal year.

A number of other analysts have also recently weighed in on CLMT. Analysts at Howard Weil raised their price target on shares of Calumet Specialty Products Partners, L.P from $33.00 to $35.00 in a research note on Tuesday, June 17th. They now have a “sector outperform” rating on the stock. Separately, analysts at Wells Fargo & Co. initiated coverage on shares of Calumet Specialty Products Partners, L.P in a research note on Thursday, May 29th. They set a “market perform” rating on the stock. Finally, analysts at Ladenburg Thalmann initiated coverage on shares of Calumet Specialty Products Partners, L.P in a research note on Friday, May 16th. They set a “buy” rating and a $36.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $32.99.

Calumet Specialty Products Partners, L.P., is a producer of specialty hydrocarbon products in North America.

To view Zacks’ full report, visit Zacks’ official website.

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