Capital Product Partners (NASDAQ:CPLP) Stock Rating Lowered by Jefferies Financial Group

Capital Product Partners (NASDAQ:CPLP) was downgraded by stock analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Marketbeat reports. They currently have a $7.00 price target on the shipping company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 23.89% from the company’s previous close.

Separately, Zacks Investment Research raised Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Thursday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Capital Product Partners currently has a consensus rating of “Hold” and a consensus price target of $12.50.

NASDAQ:CPLP opened at $5.65 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.26 and a current ratio of 0.28. Capital Product Partners has a fifty-two week low of $5.18 and a fifty-two week high of $14.20. The firm has a market cap of $104.67 million, a PE ratio of 4.35 and a beta of 1.58. The business has a 50 day moving average price of $8.26 and a 200-day moving average price of $9.25.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Friday, July 31st. The shipping company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). Capital Product Partners had a net margin of 20.41% and a return on equity of 5.86%. The firm had revenue of $35.25 million for the quarter, compared to analysts’ expectations of $35.09 million. Research analysts predict that Capital Product Partners will post 1.52 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of Capital Product Partners by 23.0% in the 4th quarter. Bank of America Corp DE now owns 7,014 shares of the shipping company’s stock worth $94,000 after purchasing an additional 1,313 shares during the period. Royal Bank of Canada boosted its position in Capital Product Partners by 13.4% during the 1st quarter. Royal Bank of Canada now owns 20,604 shares of the shipping company’s stock valued at $151,000 after acquiring an additional 2,428 shares in the last quarter. NEXT Financial Group Inc grew its holdings in shares of Capital Product Partners by 378.9% during the 1st quarter. NEXT Financial Group Inc now owns 9,100 shares of the shipping company’s stock worth $67,000 after acquiring an additional 7,200 shares during the period. Aristotle Capital Boston LLC raised its holdings in Capital Product Partners by 2.2% in the first quarter. Aristotle Capital Boston LLC now owns 454,028 shares of the shipping company’s stock worth $3,323,000 after purchasing an additional 9,714 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Capital Product Partners in the 4th quarter worth about $146,000. Institutional investors and hedge funds own 18.79% of the company’s stock.

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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