Brokerages Set Calumet, Inc. (NASDAQ:CLMT) Target Price at $19.71

Calumet, Inc. (NASDAQ:CLMT) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $19.7083.

A number of equities analysts have issued reports on CLMT shares. The Goldman Sachs Group upped their target price on Calumet from $15.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Calumet in a research note on Wednesday, October 8th. UBS Group raised their price objective on shares of Calumet from $12.00 to $13.25 and gave the company a “neutral” rating in a report on Tuesday, August 12th. Finally, Zacks Research raised shares of Calumet from a “strong sell” rating to a “hold” rating in a report on Thursday.

Calumet Price Performance

Shares of Calumet stock opened at $19.19 on Thursday. The company’s 50 day moving average price is $18.55 and its two-hundred day moving average price is $15.98. The firm has a market capitalization of $1.66 billion, a P/E ratio of -3.68 and a beta of 1.09. Calumet has a fifty-two week low of $7.68 and a fifty-two week high of $23.75.

Calumet (NASDAQ:CLMT) last announced its quarterly earnings results on Friday, November 7th. The oil and gas company reported ($0.21) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.09. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company posted ($1.18) earnings per share. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, analysts expect that Calumet will post -3.02 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its position in shares of Calumet by 33.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 465,269 shares of the oil and gas company’s stock valued at $5,900,000 after buying an additional 116,777 shares during the last quarter. Adams Asset Advisors LLC lifted its stake in shares of Calumet by 0.9% in the second quarter. Adams Asset Advisors LLC now owns 5,406,271 shares of the oil and gas company’s stock worth $85,176,000 after acquiring an additional 49,948 shares during the period. Caldwell Sutter Capital Inc. lifted its stake in shares of Calumet by 29.9% in the second quarter. Caldwell Sutter Capital Inc. now owns 19,483 shares of the oil and gas company’s stock worth $307,000 after acquiring an additional 4,483 shares during the period. Wasserstein Debt Opportunities Management L.P. boosted its holdings in Calumet by 3.2% in the second quarter. Wasserstein Debt Opportunities Management L.P. now owns 5,817,012 shares of the oil and gas company’s stock valued at $91,647,000 after acquiring an additional 180,197 shares during the last quarter. Finally, O Keefe Stevens Advisory Inc. increased its position in Calumet by 12.1% during the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 26,817 shares of the oil and gas company’s stock valued at $423,000 after purchasing an additional 2,903 shares during the period. 34.41% of the stock is owned by institutional investors.

Calumet 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.