Capital Product Partners L.P. (NASDAQ:CPLP) Receives Average Rating of “Buy” from Analysts

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Shares of Capital Product Partners L.P. (NASDAQ:CPLP) have been assigned a consensus recommendation of “Buy” from the six brokerages that are currently covering the firm, reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $8.00.

A number of brokerages recently weighed in on CPLP. Stifel Nicolaus upped their target price on shares of Capital Product Partners from $8.00 to $9.50 and gave the stock a “buy” rating in a research note on Monday, October 19th. Zacks Investment Research upgraded shares of Capital Product Partners from a “hold” rating to a “strong-buy” rating and set a $7.50 price objective for the company in a research note on Thursday, October 1st. Finally, B. Riley restated a “buy” rating on shares of Capital Product Partners in a research note on Monday, November 2nd.

Shares of CPLP stock opened at $8.12 on Friday. Capital Product Partners has a 12-month low of $5.18 and a 12-month high of $14.20. The firm has a market capitalization of $150.46 million, a price-to-earnings ratio of 5.34 and a beta of 1.11. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.83. The firm has a fifty day moving average of $7.83 and a 200-day moving average of $7.32.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Saturday, November 7th. The shipping company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company had revenue of $33.60 million during the quarter, compared to analyst estimates of $32.64 million. Capital Product Partners had a net margin of 21.29% and a return on equity of 6.97%. Research analysts expect that Capital Product Partners will post 1.71 earnings per share for the current year.

Several hedge funds have recently modified their holdings of the company. NEXT Financial Group Inc purchased a new stake in shares of Capital Product Partners in the 3rd quarter valued at $60,000. Donald Smith & CO. Inc. increased its stake in shares of Capital Product Partners by 34.4% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,445,975 shares of the shipping company’s stock worth $9,543,000 after acquiring an additional 369,966 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Capital Product Partners by 2.3% in the third quarter. Morgan Stanley now owns 397,030 shares of the shipping company’s stock worth $2,620,000 after buying an additional 9,011 shares during the last quarter. 16.97% of the stock is currently owned by institutional investors.

Capital Product Partners Company Profile

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. Its vessels transports a range of dry cargoes and containerized goods under short-term voyage charters, and medium to long-term time and bareboat charters. As of March 05, 2020, the company owned 14 vessels, including 13 Neo-Panamax container vessels and one capesize bulk carrier.

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