Calumet Specialty Products Partners (NASDAQ:CLMT) Hits New 12-Month High at $20.89

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $20.89 and last traded at $20.38, with a volume of 75981 shares traded. The stock had previously closed at $20.64.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CLMT. The Goldman Sachs Group cut their target price on shares of Calumet Specialty Products Partners from $17.00 to $15.00 and set a “buy” rating for the company in a research note on Monday, August 5th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Calumet Specialty Products Partners in a research note on Monday, August 12th. TD Cowen decreased their price objective on shares of Calumet Specialty Products Partners from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Monday, August 12th. Finally, StockNews.com started coverage on shares of Calumet Specialty Products Partners in a research note on Tuesday, August 20th. They set a “hold” rating for the company. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Calumet Specialty Products Partners currently has an average rating of “Moderate Buy” and a consensus price target of $19.33.

Calumet Specialty Products Partners Trading Down 3.2 %

The firm’s 50-day moving average price is $15.24 and its 200 day moving average price is $15.52. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -285.43 and a beta of 1.93.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $889.17 million. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.19) earnings per share. As a group, equities research analysts anticipate that Calumet Specialty Products Partners, L.P. will post -1.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CLMT. ICA Group Wealth Management LLC acquired a new position in shares of Calumet Specialty Products Partners during the fourth quarter worth $116,000. Future Financial Wealth Managment LLC acquired a new position in Calumet Specialty Products Partners in the 1st quarter worth about $119,000. PFG Investments LLC bought a new position in Calumet Specialty Products Partners in the first quarter valued at about $155,000. Sapient Capital LLC acquired a new stake in shares of Calumet Specialty Products Partners during the fourth quarter valued at about $188,000. Finally, Wedbush Securities Inc. acquired a new position in shares of Calumet Specialty Products Partners in the second quarter valued at approximately $169,000. Institutional investors own 34.41% of the company’s stock.

Calumet Specialty Products Partners Company Profile

Calumet Specialty Products Partners, L.P. manufactures, formulates, and markets a diversified slate of specialty branded products and renewable fuels to various consumer-facing and industrial markets in North America and internationally. It operates through Specialty Products and Solutions; Performance brands; Montana/Renewables; and Corporate segments.