Calumet Specialty Products Partners (NASDAQ:CLMT) Sets New 52-Week Low – Here’s Why

Shares of Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) reached a new 52-week low during trading on Saturday . The company traded as low as $9.04 and last traded at $9.75, with a volume of 2272323 shares trading hands. The stock had previously closed at $11.96.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their target price on shares of Calumet Specialty Products Partners from $29.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Calumet Specialty Products Partners in a research note on Monday, March 3rd. TD Cowen cut shares of Calumet Specialty Products Partners from a “buy” rating to a “hold” rating and lowered their price target for the company from $26.00 to $16.00 in a research report on Tuesday, March 4th. Finally, UBS Group upgraded shares of Calumet Specialty Products Partners from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $12.00 in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Calumet Specialty Products Partners has an average rating of “Hold” and an average price target of $20.80.

Calumet Specialty Products Partners Trading Down 18.5 %

The firm has a market capitalization of $837.56 million, a PE ratio of -3.53 and a beta of 1.42. The business has a fifty day moving average price of $14.26 and a two-hundred day moving average price of $18.29.

Calumet Specialty Products Partners (NASDAQ:CLMT) last announced its earnings results 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 company had revenue of $949.50 million for the quarter, compared to analysts’ expectations of $921.76 million. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned ($0.59) EPS. On average, equities analysts forecast that Calumet Specialty Products Partners, L.P. will post -3.02 earnings per share for the current fiscal year.

Insider Activity at Calumet Specialty Products Partners

In other Calumet Specialty Products Partners news, CFO David Lunin purchased 2,500 shares of Calumet Specialty Products Partners stock in a transaction dated Tuesday, March 4th. The shares were acquired at an average price of $13.05 per share, with a total value of $32,625.00. Following the completion of the transaction, the chief financial officer now owns 2,500 shares of the company’s stock, valued at $32,625. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stephen P. Mawer sold 3,655 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $12.88, for a total transaction of $47,076.40. Following the completion of the transaction, the director now directly owns 287,307 shares of the company’s stock, 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 owned by insiders.

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.