Brokerages Set Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) PT at $19.80

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $19.80.

A number of brokerages have recently issued reports on CLMT. Wells Fargo & Company lowered their price objective on 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. TD Cowen downgraded shares of Calumet Specialty Products Partners from a "buy" rating to a "hold" rating and dropped their price target for the stock from $26.00 to $16.00 in a research report on Tuesday, March 4th. UBS Group upgraded shares of Calumet Specialty Products Partners from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. Finally, HC Wainwright restated a "buy" rating and issued a $33.00 target price on shares of Calumet Specialty Products Partners in a report on Monday, March 3rd.

Insider Activity

In other news, CFO David Lunin bought 2,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $13.05 per share, with a total value of $32,625.00. Following the transaction, the chief financial officer now directly owns 2,500 shares of the company's stock, valued at approximately $32,625. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stephen P. Mawer sold 3,655 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $12.88, for a total value of $47,076.40. Following the completion of the transaction, the director now owns 287,307 shares in the company, valued at approximately $3,700,514.16. The trade was a 1.26 % decrease in their position. The disclosure for this sale can be found here. 2.91% of the stock is currently owned by company insiders.

Calumet Specialty Products Partners Trading Up 4.1 %

NASDAQ:CLMT traded up $0.40 during mid-day trading on Friday, hitting $9.95. 1,387,841 shares of the company's stock were exchanged, compared to its average volume of 823,593. Calumet Specialty Products Partners has a fifty-two week low of $7.68 and a fifty-two week high of $25.29. The company has a 50 day simple moving average of $12.27 and a 200-day simple moving average of $17.47. The firm has a market capitalization of $854.40 million, a P/E ratio of -3.60 and a beta of 1.42.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last issued its quarterly earnings data on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($1.06) by $0.59. The business had revenue of $949.50 million during the quarter, compared to the consensus estimate of $921.76 million. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.59) EPS. As a group, analysts expect that Calumet Specialty Products Partners will post -3.02 earnings per share for the current year.

About Calumet Specialty Products Partners

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.