Capital Product Partners L.P. (NASDAQ:CPLP) Receives $14.00 Average Target Price from Analysts

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Shares of Capital Product Partners L.P. (NASDAQ:CPLP) have received an average rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $14.00.

A number of analysts recently commented on CPLP shares. ValuEngine upgraded shares of Capital Product Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. TheStreet upgraded shares of Capital Product Partners from a “d+” rating to a “c-” rating in a research note on Monday, October 14th. Finally, Zacks Investment Research raised shares of Capital Product Partners from a “strong sell” rating to a “hold” rating in a report on Monday.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Donald Smith & CO. Inc. grew its stake in 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 purchasing an additional 42,138 shares during the last quarter. Arrow Investment Advisors LLC lifted its holdings in shares of Capital Product Partners by 44.9% during the third quarter. Arrow Investment Advisors LLC now owns 40,889 shares of the shipping company’s stock worth $438,000 after purchasing an additional 12,676 shares during the period. Sunbelt Securities Inc. acquired a new stake in shares of Capital Product Partners during the third quarter worth about $160,000. BlackRock Inc. lifted its holdings in shares of Capital Product Partners by 2,993.7% during the second quarter. BlackRock Inc. now owns 74,743 shares of the shipping company’s stock worth $785,000 after purchasing an additional 72,327 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Capital Product Partners by 731.0% in the second quarter. Acadian Asset Management LLC now owns 27,848 shares of the shipping company’s stock valued at $293,000 after buying an additional 24,497 shares during the last quarter. 19.98% of the stock is owned by institutional investors.

NASDAQ:CPLP traded up $0.19 during mid-day trading on Tuesday, hitting $13.45. 43,809 shares of the company’s stock traded hands, compared to its average volume of 103,873. The company has a fifty day moving average of $11.84 and a 200 day moving average of $11.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.18 and a current ratio of 1.20. Capital Product Partners has a twelve month low of $9.68 and a twelve month high of $17.36. The company has a market capitalization of $240.34 million, a P/E ratio of 13.72 and a beta of 1.07.

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

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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