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Capital Product Partners L.P. (CPLP) Rating Decreased to Sell at the Zacks Investment Research

Capital Product Partners L.P. (NASDAQ:CPLP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released this week.

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. “

Other equities research analysts have also recently issued research reports about the company. Clarkson Capital reiterated a “buy” rating on shares of Capital Product Partners L.P. in a report on Monday, October 31st. Jefferies Group reiterated a “buy” rating and set a $5.00 target price on shares of Capital Product Partners L.P. in a report on Monday, September 19th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Capital Product Partners L.P. currently has a consensus rating of “Hold” and an average price target of $6.40.

Capital Product Partners L.P. (NASDAQ:CPLP) remained flat at $3.18 during midday trading on Monday. 1,240,837 shares of the company’s stock traded hands. The company’s 50-day moving average is $0.00 and its 200 day moving average is $0.00. Capital Product Partners L.P. has a 52-week low of $2.41 and a 52-week high of $5.50.

Capital Product Partners L.P. (NASDAQ:CPLP) last announced its earnings results on Monday, October 31st. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $60.30 million for the quarter, compared to analyst estimates of $58.18 million. Capital Product Partners L.P. had a net margin of 22.68% and a return on equity of 6.03%. Equities analysts expect that Capital Product Partners L.P. will post $0.33 EPS for the current year.

Several large investors have recently bought and sold shares of the company. Credit Suisse AG raised its position in shares of Capital Product Partners L.P. by 119.8% in the third quarter. Credit Suisse AG now owns 61,850 shares of the company’s stock valued at $202,000 after buying an additional 33,711 shares during the period. Two Sigma Advisers LP raised its position in shares of Capital Product Partners L.P. by 2.2% in the third quarter. Two Sigma Advisers LP now owns 488,292 shares of the company’s stock valued at $1,592,000 after buying an additional 10,376 shares during the period. KCG Holdings Inc. raised its position in shares of Capital Product Partners L.P. by 305.3% in the third quarter. KCG Holdings Inc. now owns 72,409 shares of the company’s stock valued at $236,000 after buying an additional 54,542 shares during the period. Benchmark Capital Advisors raised its position in shares of Capital Product Partners L.P. by 10.4% in the third quarter. Benchmark Capital Advisors now owns 170,560 shares of the company’s stock valued at $556,000 after buying an additional 16,000 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Capital Product Partners L.P. by 7,341.2% in the third quarter. JPMorgan Chase & Co. now owns 468,275 shares of the company’s stock valued at $1,527,000 after buying an additional 461,982 shares during the period. Institutional investors and hedge funds own 17.03% of the company’s stock.
Source: Zacks

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