Capital Product Partners (NASDAQ:CPLP) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Thursday.
Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. ValuEngine raised Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.50.
Capital Product Partners stock opened at $3.06 on Thursday. Capital Product Partners has a 1 year low of $2.98 and a 1 year high of $4.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.65 and a quick ratio of 0.61. The company has a market capitalization of $395.54 million, a PE ratio of 16.05 and a beta of 1.21.
Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings data on Monday, April 30th. The shipping company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). Capital Product Partners had a net margin of 11.26% and a return on equity of 3.53%. The firm had revenue of $65.54 million during the quarter, compared to analyst estimates of $59.70 million. sell-side analysts predict that Capital Product Partners will post 0.21 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in CPLP. Jane Street Group LLC bought a new stake in Capital Product Partners in the fourth quarter valued at approximately $131,000. LPL Financial LLC boosted its holdings in Capital Product Partners by 57.7% in the fourth quarter. LPL Financial LLC now owns 46,536 shares of the shipping company’s stock valued at $156,000 after acquiring an additional 17,019 shares during the last quarter. Virtu Financial LLC bought a new stake in Capital Product Partners in the fourth quarter valued at approximately $182,000. Millennium Management LLC boosted its holdings in Capital Product Partners by 32.6% in the fourth quarter. Millennium Management LLC now owns 93,614 shares of the shipping company’s stock valued at $315,000 after acquiring an additional 23,015 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Capital Product Partners in the first quarter valued at approximately $346,000. Institutional investors and hedge funds own 18.34% of the company’s stock.
About Capital Product Partners
Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. It transports a range of cargoes, including crude oil; refined oil products, such as gasoline, diesel, fuel oil and jet fuel; edible oils; chemicals, such as ethanol; and dry cargo and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters.
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