Calumet Specialty Products Partners (NASDAQ:CLMT) Sets New 52-Week High - Time to Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $21.66 and last traded at $21.52, with a volume of 219319 shares. The stock had previously closed at $20.67.

A number of equities research analysts have recently commented on CLMT shares. HC Wainwright reiterated a "buy" rating and set a $25.00 price target on shares of Calumet Specialty Products Partners in a report on Monday, October 7th. The Goldman Sachs Group cut their price target on Calumet Specialty Products Partners from $17.00 to $15.00 and set a "buy" rating for the company in a report on Monday, August 5th. StockNews.com initiated coverage on Calumet Specialty Products Partners in a report on Monday, October 7th. They set a "hold" rating on the stock. Finally, TD Cowen dropped their target price on Calumet Specialty Products Partners from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.33.

Get Our Latest Research Report on Calumet Specialty Products Partners

The stock has a fifty day moving average of $17.57 and a two-hundred day moving average of $16.19. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -305.43 and a beta of 1.92.

Calumet Specialty Products Partners (NASDAQ:CLMT - Get Free Report) last released its quarterly earnings data on Friday, August 9th. The oil and gas company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.07. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $889.17 million. The business's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.19) earnings per share. Equities research analysts anticipate that Calumet Specialty Products Partners, L.P. will post -1.97 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in CLMT. ICA Group Wealth Management LLC purchased a new stake in Calumet Specialty Products Partners during the 4th quarter worth $116,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Calumet Specialty Products Partners in the first quarter worth about $119,000. Mcintyre Freedman & Flynn Investment Advisers Inc. acquired a new stake in shares of Calumet Specialty Products Partners in the first quarter valued at about $171,000. J.W. Cole Advisors Inc. raised its holdings in shares of Calumet Specialty Products Partners by 4.3% during the 1st quarter. J.W. Cole Advisors Inc. now owns 20,600 shares of the oil and gas company's stock valued at $306,000 after buying an additional 850 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Calumet Specialty Products Partners during the 1st quarter worth approximately $493,000. Institutional investors and hedge funds own 34.41% of the company's stock.

Calumet, Inc 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; Montana/Renewables; and Performance brands segments.

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