Credit Suisse Downgrades Calumet Specialty Products Partners L.P to Underperform with Price Target $11.00

Brokerage firm Credit Suisse Downgrades its rating on Calumet Specialty Products Partners L.P(NASDAQ:CLMT). In a research note issued to the investors, the brokerage major Lowers the price-target to $11.00 per share. The shares have been rated Underperform. Previously, the analysts had a Outperform rating on the shares. The rating by Credit Suisse was issued on Apr 11, 2016.

In a different note, On Feb 19, 2016, Credit Suisse said it Downgrades its rating on Calumet Specialty Products Partners L.P. In the research note, the firm Lowers the price-target to $32.00 per share. The shares have been rated ‘Neutral’ by the firm.

Calumet Specialty Products Partners L.P (CLMT) shares turned negative on Fridays trading session with the shares closing down -0.82 points or -7.39% at a volume of 6,63,155. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $11.1398. The peak price level was also seen at $11.1398 while the days lowest was $10.14. Finally the shares closed at $10.27. The 52-week high of the shares is $28.49 while the 52-week low is $7.8. According to the latest information available, the market cap of the company is $779 M.

Calumet Specialty Products Partners L.P(CLMT) last announced its earnings results on Feb 17, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $898.00M. Analysts had an estimated revenue of $953.40M. Earnings per share were $-0.74. Analysts had estimated an EPS of $0.03.

Several Insider Transactions has been reported to the SEC. On May 27, 2015, William H Hatch (CEO) purchased 10,000 shares at $26.75 per share price.

Calumet Specialty Products Partners L.P. (Calumet) is a producer of specialty hydrocarbon products in North America. The Company’s segments include specialty products fuel products and oilfield services. In its specialty products segment it processes crude oil and other feedstocks into a range of customized lubricating oils white mineral oils solvents petrolatums and waxes. It also blends and market specialty products through Royal Purple Bel-Ray TruFuel and Quantum brands. In its fuel products segment it processes crude oil into a range of fuel and fuel-related products including gasoline diesel jet fuel asphalt and heavy fuel oils as well as reselling purchased crude oil to third party customers. Its oilfield services segment manufactures and markets products and provides oilfield services including drilling fluids completion fluids production chemicals and solids control services to the oil and gas exploration industry throughout the United States.

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