Stifel Nicolaus Lowers Capital Product Partners (NASDAQ:CPLP) Price Target to $20.00

Capital Product Partners (NASDAQ:CPLP) had its price target cut by equities researchers at Stifel Nicolaus from $21.00 to $20.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 19.69% from the stock’s previous close.

Several other research analysts have also recently weighed in on CPLP. B. Riley boosted their price target on shares of Capital Product Partners from $19.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, February 5th. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and decreased their target price for the company from $22.00 to $18.00 in a research report on Tuesday, February 27th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.67.

Capital Product Partners Stock Performance

Shares of NASDAQ:CPLP traded down $0.22 during trading on Friday, hitting $16.71. 3,999 shares of the stock traded hands, compared to its average volume of 132,611. The company has a quick ratio of 0.96, a current ratio of 0.99 and a debt-to-equity ratio of 2.27. The company has a market cap of $344.23 million, a price-to-earnings ratio of 7.76 and a beta of 0.86. The company has a fifty day moving average price of $17.54 and a two-hundred day moving average price of $15.78. Capital Product Partners has a 52-week low of $12.02 and a 52-week high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last announced its earnings results on Friday, February 2nd. The shipping company reported $0.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.04). Capital Product Partners had a return on equity of 7.78% and a net margin of 13.09%. The business had revenue of $92.50 million for the quarter, compared to analyst estimates of $93.32 million. During the same period last year, the firm earned $1.03 EPS. As a group, equities analysts predict that Capital Product Partners will post 1.79 EPS for the current year.

Institutional Trading of Capital Product Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in Capital Product Partners by 11.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 209,580 shares of the shipping company’s stock worth $2,936,000 after purchasing an additional 20,746 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Capital Product Partners by 2,886,050.0% during the first quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock worth $1,052,000 after purchasing an additional 57,721 shares in the last quarter. Sei Investments Co. raised its holdings in Capital Product Partners by 6.7% during the third quarter. Sei Investments Co. now owns 74,920 shares of the shipping company’s stock worth $1,050,000 after purchasing an additional 4,677 shares in the last quarter. State Street Corp acquired a new stake in Capital Product Partners during the third quarter worth approximately $857,000. Finally, BNP Paribas Arbitrage SNC grew its position in shares of Capital Product Partners by 24.2% during the second quarter. BNP Paribas Arbitrage SNC now owns 24,581 shares of the shipping company’s stock worth $337,000 after acquiring an additional 4,788 shares during the last quarter.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.