Capital Product Partners L.P. (CPLP) Receives $4.75 Consensus Target Price from Brokerages

Capital Product Partners L.P. (NASDAQ:CPLP) has earned a consensus rating of “Buy” from the seven ratings firms that are covering the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.75.

CPLP has been the subject of several analyst reports. Zacks Investment Research lowered shares of Capital Product Partners L.P. from a “hold” rating to a “sell” rating in a report on Monday, January 2nd. Wells Fargo & Co raised shares of Capital Product Partners L.P. from a “market perform” rating to an “outperform” rating and set a $5.00 price target on the stock in a research note on Wednesday, January 25th. Evercore ISI raised shares of Capital Product Partners L.P. from a “hold” rating to a “buy” rating and set a $5.00 price target on the stock in a research note on Thursday, January 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of Capital Product Partners L.P. in a research note on Friday, March 31st. Finally, TheStreet raised shares of Capital Product Partners L.P. from a “c” rating to a “b-” rating in a research note on Friday, March 31st.

A number of hedge funds and other institutional investors have recently bought and sold shares of CPLP. Eqis Capital Management Inc. increased its position in Capital Product Partners L.P. by 29.9% in the third quarter. Eqis Capital Management Inc. now owns 98,710 shares of the shipping company’s stock worth $322,000 after buying an additional 22,722 shares during the period. GSA Capital Partners LLP increased its position in Capital Product Partners L.P. by 209.9% in the fourth quarter. GSA Capital Partners LLP now owns 104,912 shares of the shipping company’s stock worth $334,000 after buying an additional 71,054 shares during the period. Partnervest Advisory Services LLC increased its position in Capital Product Partners L.P. by 11.6% in the third quarter. Partnervest Advisory Services LLC now owns 131,354 shares of the shipping company’s stock worth $428,000 after buying an additional 13,681 shares during the period. Benchmark Capital Advisors increased its position in Capital Product Partners L.P. by 10.4% in the third quarter. Benchmark Capital Advisors now owns 170,560 shares of the shipping company’s stock worth $556,000 after buying an additional 16,000 shares during the period. Finally, TCW Group Inc. increased its position in Capital Product Partners L.P. by 74.6% in the fourth quarter. TCW Group Inc. now owns 229,600 shares of the shipping company’s stock worth $730,000 after buying an additional 98,100 shares during the period. 17.32% of the stock is currently owned by institutional investors and hedge funds.

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Capital Product Partners L.P. (NASDAQ:CPLP) traded up 0.448% during midday trading on Monday, reaching $3.365. The company’s stock had a trading volume of 332,992 shares. Capital Product Partners L.P. has a 12 month low of $2.41 and a 12 month high of $4.05. The stock has a 50-day moving average price of $3.39 and a 200 day moving average price of $3.25. The company has a market cap of $410.85 million, a PE ratio of 10.015 and a beta of 1.67.

Capital Product Partners L.P. (NASDAQ:CPLP) last released its earnings results on Tuesday, January 31st. The shipping company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. The firm earned $62.40 million during the quarter, compared to analyst estimates of $60.53 million. Capital Product Partners L.P. had a net margin of 20.49% and a return on equity of 5.53%. Analysts expect that Capital Product Partners L.P. will post $0.33 earnings per share for the current fiscal year.

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.

5 Day Chart for NASDAQ:CPLP

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