Calumet, Inc. (NASDAQ:CLMT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Calumet, Inc. (NASDAQ:CLMT) have received an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $51.75.

Several research firms have recently weighed in on CLMT. TD Cowen upped their price target on shares of Calumet from $34.00 to $40.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Calumet in a research report on Friday, August 7th. HC Wainwright upped their target price on shares of Calumet from $60.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. The Goldman Sachs Group increased their target price on Calumet from $40.00 to $45.00 and gave the stock a “neutral” rating in a report on Tuesday, August 18th. Finally, UBS Group lifted their price target on Calumet from $26.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th.

Calumet Price Performance

Shares of Calumet stock opened at $55.28 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of -35.66 and a beta of 0.78. The business has a 50-day moving average of $50.12 and a two-hundred day moving average of $39.92. Calumet has a 1 year low of $17.42 and a 1 year high of $59.87.

Calumet (NASDAQ:CLMT) last released its quarterly earnings data on Friday, August 7th. The oil and gas company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($1.16). The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.12 billion. During the same quarter in the previous year, the business earned ($1.70) EPS. Calumet’s quarterly revenue was up 40.8% compared to the same quarter last year. On average, equities analysts anticipate that Calumet will post 0.76 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CLMT. State Street Corp raised its position in Calumet by 12.7% in the 2nd quarter. State Street Corp now owns 3,471,065 shares of the oil and gas company’s stock valued at $125,028,000 after buying an additional 390,906 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Calumet by 1.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,852 shares of the oil and gas company’s stock worth $1,075,000 after acquiring an additional 468 shares during the last quarter. BlueCrest Capital Management Ltd grew its stake in shares of Calumet by 33.3% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 80,000 shares of the oil and gas company’s stock worth $2,882,000 after acquiring an additional 20,000 shares in the last quarter. Nykredit A S bought a new position in shares of Calumet during the 2nd quarter worth approximately $57,000. Finally, Concurrent Investment Advisors LLC acquired a new stake in shares of Calumet in the second quarter valued at approximately $2,067,000. 34.41% of the stock is currently owned by institutional investors.

About Calumet

Calumet, Inc (NASDAQ: CLMT) is a specialty products and renewable fuels company headquartered in Indianapolis, Indiana. The company develops, produces and markets a range of products derived from crude oil and renewable feedstocks for industrial, commercial and consumer applications.

Its specialty products portfolio includes lubricants, solvents, waxes, asphalt and other hydrocarbon-based products, as well as products used in manufacturing, transportation, infrastructure and consumer goods.