Capital Product Partners (CPLP) Downgraded to Strong Sell at ValuEngine

ValuEngine downgraded shares of Capital Product Partners (NASDAQ:CPLP) from a sell rating to a strong sell rating in a report issued on Wednesday morning, ValuEngine reports.

A number of other research firms have also recently commented on CPLP. Wells Fargo & Co cut Capital Product Partners from an outperform rating to a market perform rating and dropped their price objective for the stock from $28.00 to $21.00 in a research report on Thursday, January 10th. Zacks Investment Research upgraded Capital Product Partners from a hold rating to a buy rating and set a $17.50 price objective for the company in a research report on Monday, February 4th. B. Riley reiterated a buy rating and set a $14.00 price objective (up previously from $12.25) on shares of Capital Product Partners in a research report on Thursday, April 4th. Finally, BidaskClub upgraded Capital Product Partners from a sell rating to a hold rating in a research report on Saturday, January 5th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $17.88.

Shares of NASDAQ:CPLP traded up $0.26 during midday trading on Wednesday, hitting $11.06. 76,652 shares of the stock were exchanged, compared to its average volume of 105,894. The company has a market capitalization of $204.96 million, a PE ratio of 11.29 and a beta of 1.04. The company has a quick ratio of 0.49, a current ratio of 0.56 and a debt-to-equity ratio of 0.44. Capital Product Partners has a twelve month low of $10.30 and a twelve month high of $22.57.

Capital Product Partners (NASDAQ:CPLP) last released its quarterly earnings results on Thursday, January 31st. The shipping company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.14. The business had revenue of $61.51 million during the quarter, compared to the consensus estimate of $59.64 million. Capital Product Partners had a return on equity of 3.24% and a net margin of 0.13%. As a group, equities analysts anticipate that Capital Product Partners will post 1.33 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of CPLP. JPMorgan Chase & Co. increased its position in Capital Product Partners by 19.9% during the 3rd 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 in the last quarter. Virtu Financial LLC purchased a new stake in Capital Product Partners during the 4th quarter worth about $90,000. Concorde Asset Management LLC purchased a new stake in Capital Product Partners during the 4th quarter worth about $75,000. Arrow Investment Advisors LLC increased its position in Capital Product Partners by 11.7% during the 4th quarter. Arrow Investment Advisors LLC now owns 176,400 shares of the shipping company’s stock worth $369,000 after purchasing an additional 18,433 shares in the last quarter. Finally, Goodman Financial Corp increased its position in Capital Product Partners by 1.7% during the 4th quarter. Goodman Financial Corp now owns 963,964 shares of the shipping company’s stock worth $2,015,000 after purchasing an additional 16,522 shares in the last quarter.

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.

See Also: Return on Equity (ROE)

To view ValuEngine’s full report, visit ValuEngine’s official website.

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