Capital Product Partners (NASDAQ:CPLP) Lowered to “Strong Sell” at Zacks Investment Research

Capital Product Partners (NASDAQ:CPLP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday, Zacks.com reports.

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. “

Other research analysts also recently issued reports about the company. TheStreet upgraded Capital Product Partners from a “d+” rating to a “c-” rating in a research note on Monday, October 14th. ValuEngine upgraded Capital Product Partners from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company’s stock. Capital Product Partners has a consensus rating of “Hold” and a consensus target price of $15.67.

Shares of NASDAQ CPLP traded down $0.06 during midday trading on Tuesday, hitting $11.49. 51,900 shares of the company’s stock traded hands, compared to its average volume of 103,958. Capital Product Partners has a 1 year low of $9.68 and a 1 year high of $18.69. The stock has a market capitalization of $209.96 million, a price-to-earnings ratio of 11.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.18 and a current ratio of 1.20. The firm has a fifty day moving average of $11.54 and a 200 day moving average of $10.85.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings data on Thursday, October 31st. The shipping company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.22). The company had revenue of $25.71 million for the quarter, compared to the consensus estimate of $26.22 million. Capital Product Partners had a negative net margin of 73.89% and a positive return on equity of 6.40%. On average, equities analysts anticipate that Capital Product Partners will post 0.89 earnings per share for the current year.

Several large investors have recently made changes to their positions in the stock. Arrow Investment Advisors LLC grew its stake in shares of Capital Product Partners by 44.9% during the 3rd quarter. Arrow Investment Advisors LLC now owns 40,889 shares of the shipping company’s stock valued at $438,000 after acquiring an additional 12,676 shares during the period. Donald Smith & CO. Inc. grew its stake in shares of Capital Product Partners by 6.2% during the 3rd quarter. Donald Smith & CO. Inc. now owns 718,620 shares of the shipping company’s stock valued at $7,689,000 after acquiring an additional 42,138 shares during the period. California Public Employees Retirement System boosted its stake in Capital Product Partners by 6.6% in the 3rd quarter. California Public Employees Retirement System now owns 44,096 shares of the shipping company’s stock worth $472,000 after purchasing an additional 2,743 shares during the period. Royal Bank of Canada boosted its stake in Capital Product Partners by 494.9% in the 2nd quarter. Royal Bank of Canada now owns 23,593 shares of the shipping company’s stock worth $248,000 after purchasing an additional 19,627 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Capital Product Partners in the 2nd quarter worth approximately $110,000. Institutional investors own 21.50% of the company’s stock.

Capital Product Partners Company Profile

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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