Analysts Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) PT at $18.50

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.50.

Several research analysts have recently commented on the company. Wells Fargo & Company reduced their target price on Calumet Specialty Products Partners from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, May 14th. The Goldman Sachs Group dropped their price objective on shares of Calumet Specialty Products Partners from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, April 30th. Bank of America assumed coverage on shares of Calumet Specialty Products Partners in a research report on Tuesday, May 13th. They issued a “buy” rating and a $15.00 price objective for the company. UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. Finally, TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th.

Calumet Specialty Products Partners Price Performance

Shares of CLMT opened at $14.15 on Monday. The company has a market capitalization of $1.22 billion, a P/E ratio of -5.13 and a beta of 0.91. Calumet Specialty Products Partners has a one year low of $7.68 and a one year high of $25.29. The business’s 50 day simple moving average is $11.88 and its 200-day simple moving average is $15.47.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced 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 analyst estimates of $899.62 million. Calumet Specialty Products Partners’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.51) earnings per share. On average, sell-side analysts anticipate that Calumet Specialty Products Partners will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Calumet Specialty Products Partners news, Director Jennifer Straumins sold 100,000 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.17, for a total transaction of $1,317,000.00. Following the completion of the sale, the director now owns 1,084,589 shares in the company, valued at approximately $14,284,037.13. The trade was a 8.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the company’s stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $9.29, for a total transaction of $33,954.95. Following the sale, the director now owns 283,652 shares of the company’s stock, valued at $2,635,127.08. The trade was a 1.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 107,310 shares of company stock worth $1,398,031 in the last quarter. Insiders own 4.07% of the company’s stock.

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.