Capital Product Partners (CPLP) Earns “Hold” Rating from Wells Fargo & Co

Capital Product Partners (NASDAQ:CPLP)‘s stock had its “hold” rating restated by research analysts at Wells Fargo & Co in a report released on Tuesday, AnalystRatings.com reports.

A number of other equities research analysts also recently weighed in on the company. BidaskClub downgraded Capital Product Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 12th. ValuEngine downgraded Capital Product Partners from a “hold” rating to a “sell” rating in a research report on Saturday, February 2nd. Zacks Investment Research upgraded Capital Product Partners from a “hold” rating to a “buy” rating and set a $17.50 price target on the stock in a research report on Monday, February 4th. Finally, B. Riley restated a “buy” rating and set a $14.00 price target (up previously from $12.25) on shares of Capital Product Partners in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.88.

NASDAQ CPLP opened at $10.14 on Tuesday. Capital Product Partners has a twelve month low of $10.11 and a twelve month high of $22.57. The company has a current ratio of 1.20, a quick ratio of 0.49 and a debt-to-equity ratio of 0.62. The stock has a market cap of $190.49 million, a price-to-earnings ratio of 10.35 and a beta of 1.04.



Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Monday, May 13th. The shipping company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.41). Capital Product Partners had a negative net margin of 59.95% and a positive return on equity of 4.19%. The firm had revenue of $26.28 million for the quarter, compared to analysts’ expectations of $57.93 million. On average, analysts predict that Capital Product Partners will post 1.21 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. grew its stake in shares of Capital Product Partners by 100.5% in the fourth quarter. Donald Smith & CO. Inc. now owns 4,532,859 shares of the shipping company’s stock worth $9,474,000 after purchasing an additional 2,272,183 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Capital Product Partners by 273.9% in the fourth quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock worth $977,000 after purchasing an additional 342,493 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Capital Product Partners by 19.9% in the third quarter. JPMorgan Chase & Co. now owns 1,382,108 shares of the shipping company’s stock worth $3,843,000 after purchasing an additional 229,516 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Capital Product Partners by 113.6% in the fourth quarter. Geode Capital Management LLC now owns 279,574 shares of the shipping company’s stock worth $584,000 after purchasing an additional 148,676 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Capital Product Partners by 18.3% in the fourth quarter. Two Sigma Advisers LP now owns 508,500 shares of the shipping company’s stock worth $1,063,000 after purchasing an additional 78,684 shares during the last quarter.

About Capital Product Partners

Capital Product Partners LP operates as an international shipping company. It engages in the seaborne transportation of cargo, including crude oil, refined oil products and chemicals. The company fleet consists of vessels, suezmax crude oil tankers, medium range tankers, and capesize bulk carrier. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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