Capital Product Partners (CPLP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Capital Product Partners (NASDAQ:CPLP) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “CAPITAL PRODUCT PARTNERS L.P. is an international shipping company and leader in the seaborne transportation of refined oil products and chemicals. Their fleet of product tankers is fully chartered under medium- to long-term time and bareboat charters. With their modern, state-of-the-art fleet and built-in growth through contracted acquisitions of additional vessels and the potential drop-down of optional vessels from the owner of their General Partner, Capital Maritime & Trading Corp., they are well-positioned to capitalize on the growth dynamics of the product tanker industry, worldwide, as well as pending regulatory changes. “

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A number of other equities research analysts have also recently issued reports on CPLP. ValuEngine cut Capital Product Partners from a hold rating to a sell rating in a report on Monday, April 2nd. BidaskClub upgraded Capital Product Partners from a sell rating to a hold rating in a research note on Wednesday, January 24th. TheStreet cut Capital Product Partners from a b- rating to a c rating in a research note on Friday, February 2nd. Finally, Jefferies Group assumed coverage on Capital Product Partners in a research note on Monday, December 18th. They issued a buy rating and a $5.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, one has 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 price target of $4.50.

Shares of NASDAQ:CPLP opened at $3.09 on Tuesday. Capital Product Partners has a 12-month low of $2.98 and a 12-month high of $4.00. The company has a market cap of $404.62, a PE ratio of 12.34 and a beta of 1.25. The company has a debt-to-equity ratio of 0.49, a current ratio of 0.86 and a quick ratio of 0.81.

Capital Product Partners (NASDAQ:CPLP) last issued its quarterly earnings data on Wednesday, January 31st. The shipping company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Capital Product Partners had a return on equity of 4.30% and a net margin of 14.31%. The company had revenue of $64.11 million during the quarter, compared to analysts’ expectations of $59.70 million. sell-side analysts predict that Capital Product Partners will post 0.31 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of Capital Product Partners in the fourth quarter valued at approximately $131,000. LPL Financial LLC boosted its stake in shares of Capital Product Partners by 57.7% in the fourth quarter. LPL Financial LLC now owns 46,536 shares of the shipping company’s stock valued at $156,000 after buying an additional 17,019 shares during the period. Millennium Management LLC boosted its stake in shares of Capital Product Partners by 32.6% in the fourth quarter. Millennium Management LLC now owns 93,614 shares of the shipping company’s stock valued at $315,000 after buying an additional 23,015 shares during the period. Two Sigma Advisers LP boosted its stake in shares of Capital Product Partners by 23.9% in the fourth quarter. Two Sigma Advisers LP now owns 732,416 shares of the shipping company’s stock valued at $2,461,000 after buying an additional 141,100 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Capital Product Partners by 13.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,763,343 shares of the shipping company’s stock valued at $9,285,000 after buying an additional 323,257 shares during the period. Institutional investors and hedge funds own 18.87% of the company’s stock.

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Capital Product Partners Company Profile

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.

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