Capital Product Partners L.P. (NASDAQ:CPLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “CAPITAL PRODUCT PARTNERS L.P. is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals. Their fleet of product tankers is fully chartered under medium- to long-term time and bareboat charters. With their modern, state-of-the-art fleet and built-in growth through contracted acquisitions of additional vessels and the potential drop-down of optional vessels from the owner of their General Partner, Capital Maritime & Trading Corp., they are well-positioned to capitalize on the growth dynamics of the product tanker industry, worldwide, as well as pending regulatory changes. “

Several other brokerages also recently issued reports on CPLP. Jefferies Group reiterated a “buy” rating on shares of Capital Product Partners L.P. in a report on Tuesday, August 23rd. Deutsche Bank AG increased their price target on Capital Product Partners L.P. from $2.50 to $4.00 and gave the company a “hold” rating in a report on Monday, August 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $7.75.

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Capital Product Partners L.P. (NASDAQ:CPLP) traded up 0.62% during mid-day trading on Tuesday, hitting $3.26. The stock had a trading volume of 596,985 shares. The firm has a market cap of $392.53 million, a PE ratio of 8.86 and a beta of 1.56. The company has a 50-day moving average of $3.50 and a 200-day moving average of $3.18. Capital Product Partners L.P. has a 12-month low of $2.41 and a 12-month high of $7.65.

Capital Product Partners L.P. (NASDAQ:CPLP) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. The company earned $60.90 million during the quarter, compared to analyst estimates of $60.89 million. Analysts expect that Capital Product Partners L.P. will post $0.37 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Aristotle Capital Boston LLC increased its stake in shares of Capital Product Partners L.P. by 3.9% in the second quarter. Aristotle Capital Boston LLC now owns 616,546 shares of the company’s stock valued at $1,837,000 after buying an additional 23,236 shares in the last quarter. Guggenheim Capital LLC boosted its position in shares of Capital Product Partners L.P. by 12.5% in the second quarter. Guggenheim Capital LLC now owns 350,657 shares of the company’s stock valued at $1,045,000 after buying an additional 38,835 shares during the last quarter. TCW Group Inc. boosted its position in shares of Capital Product Partners L.P. by 49.8% in the second quarter. TCW Group Inc. now owns 131,500 shares of the company’s stock valued at $392,000 after buying an additional 43,700 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of Capital Product Partners L.P. by 0.7% in the second quarter. Teachers Advisors Inc. now owns 1,571,400 shares of the company’s stock valued at $4,683,000 after buying an additional 10,700 shares during the last quarter. Finally, TFS Capital LLC bought a new position in shares of Capital Product Partners L.P. during the second quarter valued at approximately $171,000.

About Capital Product Partners L.P.

Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.

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