Calumet Specialty Products Partners (NASDAQ:CLMT) Shares Gap Up – Should You Buy?

Calumet Specialty Products Partners, L.P. (NASDAQ:CLMT) gapped up prior to trading on Wednesday . The stock had previously closed at $15.88, but opened at $19.00. Calumet Specialty Products Partners shares last traded at $17.93, with a volume of 1,063,664 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CLMT shares. HC Wainwright restated a “buy” rating and issued a $33.00 price target on shares of Calumet Specialty Products Partners in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of Calumet Specialty Products Partners from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com raised shares of Calumet Specialty Products Partners to a “sell” rating in a report on Monday, November 18th. UBS Group cut Calumet Specialty Products Partners from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $20.50 to $15.00 in a report on Tuesday, February 4th. Finally, TD Cowen dropped their price target on Calumet Specialty Products Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $23.60.

Calumet Specialty Products Partners Trading Up 15.2 %

The company has a market capitalization of $1.57 billion, a PE ratio of -6.63 and a beta of 1.88. The stock’s 50-day moving average is $19.59 and its two-hundred day moving average is $19.00.

Insider Transactions at Calumet Specialty Products Partners

In other news, Director Jennifer Straumins sold 37,861 shares of Calumet Specialty Products Partners stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $21.42, for a total transaction of $810,982.62. Following the completion of the sale, the director now owns 1,184,589 shares of the company’s stock, valued at approximately $25,373,896.38. The trade was a 3.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.91% of the company’s stock.

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.