Capital Product Partners L.P. (CPLP) Stock Rating Upgraded by TheStreet

Capital Product Partners L.P. (NASDAQ:CPLP) was upgraded by research analysts at TheStreet from a “c” rating to a “b-” rating in a research note issued on Thursday.

Several other research analysts have also weighed in on the company. UBS AG reissued a “neutral” rating and set a $4.00 price target (down from $4.50) on shares of Capital Product Partners L.P. in a research report on Wednesday, August 9th. BidaskClub lowered Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $4.40.

Shares of Capital Product Partners L.P. (CPLP) traded up 0.29% on Thursday, hitting $3.49. The stock had a trading volume of 293,009 shares. The company’s 50-day moving average price is $3.68 and its 200 day moving average price is $3.47. Capital Product Partners L.P. has a 12-month low of $2.73 and a 12-month high of $4.00.

Capital Product Partners L.P. (NASDAQ:CPLP) last announced its earnings results on Friday, July 28th. The shipping company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by $0.02. Capital Product Partners L.P. had a net margin of 18.20% and a return on equity of 4.95%. The company had revenue of $62.06 million for the quarter, compared to analysts’ expectations of $59.47 million. On average, equities research analysts expect that Capital Product Partners L.P. will post $0.27 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Susquehanna International Group LLP raised its position in Capital Product Partners L.P. by 354.2% in the second quarter. Susquehanna International Group LLP now owns 146,220 shares of the shipping company’s stock valued at $497,000 after buying an additional 114,028 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Capital Product Partners L.P. by 0.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock valued at $225,000 after buying an additional 523 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Capital Product Partners L.P. during the second quarter valued at $3,202,000. Citadel Advisors LLC raised its position in Capital Product Partners L.P. by 60.6% in the second quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock valued at $147,000 after buying an additional 16,318 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in Capital Product Partners L.P. during the second quarter valued at $237,000. 18.72% of the stock is currently owned by hedge funds and other institutional investors.

Capital Product Partners L.P. Company Profile

Capital Product Partners L.P. is an international owner of tanker, container and drybulk vessels. The Company’s fleet consisted of 36 high specification vessels with an average age of approximately 7.4 years, as of December 31, 2016. As of December 31, 2016, its fleet consisted of four Suezmax crude oil tankers, 21 medium range product tankers, 10 post-panamax container carrier vessels and one Capesize bulk carrier.

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