Stifel Nicolaus Lowers Capital Product Partners (NASDAQ:CPLP) Price Target to $20.00

Capital Product Partners (NASDAQ:CPLP) had its target price lowered by stock analysts at Stifel Nicolaus from $21.00 to $20.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the shipping company’s stock. Stifel Nicolaus’ target price indicates a potential upside of 19.69% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group cut shares of Capital Product Partners from a “buy” rating to a “hold” rating and decreased their target price for the stock from $22.00 to $18.00 in a research report on Tuesday, February 27th. B. Riley lifted their target price on shares of Capital Product Partners from $19.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.67.

Capital Product Partners Price Performance

Shares of Capital Product Partners stock traded down $0.22 on Friday, hitting $16.71. 3,999 shares of the company traded hands, compared to its average volume of 132,611. The firm’s 50-day simple moving average is $17.54 and its 200 day simple moving average is $15.78. The company has a current ratio of 0.99, a quick ratio of 0.96 and a debt-to-equity ratio of 2.27. The company has a market cap of $344.23 million, a P/E ratio of 7.76 and a beta of 0.86. Capital Product Partners has a 12-month low of $12.02 and a 12-month high of $18.85.

Capital Product Partners (NASDAQ:CPLP) last posted its quarterly earnings data on Friday, February 2nd. The shipping company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.04). The company had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $93.32 million. Capital Product Partners had a net margin of 13.09% and a return on equity of 7.78%. During the same quarter last year, the business posted $1.03 EPS. Analysts expect that Capital Product Partners will post 1.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Capital Product Partners

A number of hedge funds have recently modified their holdings of CPLP. Bank of America Corp DE increased its position in shares of Capital Product Partners by 18.0% in the fourth quarter. Bank of America Corp DE now owns 5,782 shares of the shipping company’s stock valued at $79,000 after acquiring an additional 882 shares during the period. Geode Capital Management LLC bought a new stake in shares of Capital Product Partners during the 2nd quarter valued at about $142,000. UBS Group AG boosted its stake in shares of Capital Product Partners by 19.0% during the 3rd quarter. UBS Group AG now owns 10,795 shares of the shipping company’s stock valued at $144,000 after purchasing an additional 1,724 shares in the last quarter. Wolverine Trading LLC bought a new stake in shares of Capital Product Partners during the 4th quarter valued at about $270,000. Finally, Creative Planning boosted its stake in shares of Capital Product Partners by 23.0% during the 2nd quarter. Creative Planning now owns 21,420 shares of the shipping company’s stock valued at $325,000 after purchasing an additional 4,000 shares in the last quarter.

About Capital Product Partners

Capital Product Partners L.P., a shipping company, provides marine transportation services in Greece. The company's vessels provide a range of cargoes, including liquefied natural gas, containerized goods, and dry bulk cargo under short-term voyage charters, and medium to long-term time charters.