Capital Product Partners L.P. (NASDAQ:CPLP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “CAPITAL PRODUCT PARTNERS L.P. is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals. Their fleet of product tankers is fully chartered under medium- to long-term time and bareboat charters. With their modern, state-of-the-art fleet and built-in growth through contracted acquisitions of additional vessels and the potential drop-down of optional vessels from the owner of their General Partner, Capital Maritime & Trading Corp., they are well-positioned to capitalize on the growth dynamics of the product tanker industry, worldwide, as well as pending regulatory changes. “
Several other research firms also recently commented on CPLP. Jefferies Group restated a “buy” rating on shares of Capital Product Partners L.P. in a report on Tuesday, August 23rd. Deutsche Bank AG lifted their target price on Capital Product Partners L.P. from $2.50 to $4.00 and gave the company a “hold” rating in a research report on Monday, August 1st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.75.
Capital Product Partners L.P. (NASDAQ:CPLP) opened at 3.26 on Tuesday. The firm’s 50-day moving average price is $3.49 and its 200 day moving average price is $3.18. Capital Product Partners L.P. has a 52-week low of $2.41 and a 52-week high of $7.65. The company has a market cap of $392.53 million, a PE ratio of 8.86 and a beta of 1.56.
Capital Product Partners L.P. (NASDAQ:CPLP) last released its quarterly earnings data on Friday, July 29th. The company reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $60.90 million for the quarter, compared to the consensus estimate of $60.89 million. On average, equities analysts predict that Capital Product Partners L.P. will post $0.37 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. TFS Capital LLC acquired a new position in Capital Product Partners L.P. during the second quarter valued at $171,000. Cambridge Investment Research Advisors Inc. boosted its position in Capital Product Partners L.P. by 27.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 59,931 shares of the company’s stock valued at $179,000 after buying an additional 12,878 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Capital Product Partners L.P. during the second quarter valued at $180,000. Eqis Capital Management Inc. boosted its position in Capital Product Partners L.P. by 72.4% in the second quarter. Eqis Capital Management Inc. now owns 75,988 shares of the company’s stock valued at $226,000 after buying an additional 31,901 shares in the last quarter. Finally, State Street Corp boosted its position in Capital Product Partners L.P. by 3.9% in the first quarter. State Street Corp now owns 90,071 shares of the company’s stock valued at $285,000 after buying an additional 3,369 shares in the last quarter.
Capital Product Partners L.P. Company Profile
Capital Product Partners L.P. is an international owner of modern tanker, container and drybulk vessels. The Partnership owns approximately 35 vessels, including twenty modern Medium Range (MR) product tankers, four Suezmax crude oil tankers, 10 post panamax container vessels and one Capesize bulk carrier.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Capital Product Partners L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Capital Product Partners L.P. and related companies with MarketBeat.com's FREE daily email newsletter.