Calumet Specialty Products Partners (NASDAQ:CLMT) Downgraded to “Hold” Rating by TD Cowen

Calumet Specialty Products Partners (NASDAQ:CLMT) was downgraded by equities research analysts at TD Cowen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. They presently have a $16.00 target price on the oil and gas company’s stock, down from their previous target price of $26.00. TD Cowen’s target price suggests a potential upside of 18.87% from the stock’s current price.

Several other equities analysts also recently commented on the company. HC Wainwright reiterated a “buy” rating and set a $33.00 price target on shares of Calumet Specialty Products Partners in a report on Monday. UBS Group lowered shares of Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and lowered their target price for the company from $20.50 to $15.00 in a research note on Tuesday, February 4th. Finally, StockNews.com upgraded shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Calumet Specialty Products Partners has a consensus rating of “Hold” and a consensus price target of $21.60.

Calumet Specialty Products Partners Trading Down 6.1 %

Shares of NASDAQ:CLMT opened at $13.46 on Tuesday. The stock has a market capitalization of $1.16 billion, a PE ratio of -4.88 and a beta of 1.88. Calumet Specialty Products Partners has a 1 year low of $9.97 and a 1 year high of $25.29. The firm has a fifty day moving average price of $17.98 and a 200 day moving average price of $19.22.

Calumet Specialty Products Partners (NASDAQ:CLMT) last released its quarterly earnings results on Friday, February 28th. The oil and gas company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.06) by $0.59. The company had revenue of $949.50 million for the quarter, compared to the consensus estimate of $921.76 million. During the same quarter last year, the company posted ($0.59) EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts forecast that Calumet Specialty Products Partners will post -3.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jennifer Straumins sold 37,861 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total value of $810,982.62. Following the completion of the sale, the director now owns 1,184,589 shares in the company, valued at approximately $25,373,896.38. This trade represents a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.91% of the stock is currently owned by insiders.

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.