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, MarketBeat.com 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.
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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