A number of other brokerages have also recently issued reports on CPLP. Zacks Investment Research raised shares of Capital Product Partners from a hold rating to a buy rating and set a $17.50 target price on the stock in a report on Monday, February 4th. ValuEngine cut shares of Capital Product Partners from a sell rating to a strong sell rating in a report on Wednesday, May 1st. B. Riley reaffirmed a buy rating and issued a $14.00 target price (up from $12.25) on shares of Capital Product Partners in a report on Thursday, April 4th. Finally, BidaskClub cut shares of Capital Product Partners from a sell rating to a strong sell rating in a report on Tuesday, March 12th. Two 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’s stock. The stock has an average rating of Hold and a consensus target price of $17.88.
Shares of CPLP stock opened at $9.98 on Tuesday. The company has a current ratio of 1.20, a quick ratio of 1.18 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $185.49 million, a PE ratio of 10.18 and a beta of 1.04. Capital Product Partners has a 52-week low of $9.90 and a 52-week high of $22.57.
The company also recently announced a special dividend, which was paid on Wednesday, May 15th. Stockholders of record on Monday, May 13th were issued a $0.315 dividend. The ex-dividend date of this dividend was Friday, May 10th. Capital Product Partners’s payout ratio is 128.57%.
Hedge funds have recently modified their holdings of the company. Madrona Financial Services LLC bought a new position in Capital Product Partners in the 4th quarter valued at about $35,000. Concorde Asset Management LLC bought a new position in Capital Product Partners in the 4th quarter valued at about $75,000. Acadian Asset Management LLC bought a new position in Capital Product Partners in the 4th quarter valued at about $32,000. Wiley BROS. Aintree Capital LLC bought a new position in Capital Product Partners in the 4th quarter valued at about $75,000. Finally, Two Sigma Investments LP raised its holdings in Capital Product Partners by 273.9% in the 4th quarter. Two Sigma Investments LP now owns 467,551 shares of the shipping company’s stock valued at $977,000 after acquiring an additional 342,493 shares during the period.
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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