Capital Product Partners (CPLP) Receives New Coverage from Analysts at Jefferies Group

Jefferies Group initiated coverage on shares of Capital Product Partners (NASDAQ:CPLP) in a research report sent to investors on Monday. The firm issued a buy rating and a $5.00 price objective on the shipping company’s stock. Jefferies Group also issued estimates for Capital Product Partners’ Q4 2017 earnings at $0.06 EPS, FY2017 earnings at $0.24 EPS and FY2018 earnings at $0.22 EPS.

CPLP has been the subject of several other reports. ValuEngine raised shares of Capital Product Partners from a hold rating to a buy rating in a report on Tuesday, October 3rd. Zacks Investment Research raised shares of Capital Product Partners from a sell rating to a hold rating in a report on Tuesday, November 14th. Finally, BidaskClub downgraded shares of Capital Product Partners from a sell rating to a strong sell rating in a report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $4.75.

Shares of Capital Product Partners (CPLP) traded up $0.03 during trading on Monday, hitting $3.41. 390,700 shares of the stock traded hands, compared to its average volume of 525,496. Capital Product Partners has a 1-year low of $3.10 and a 1-year high of $4.00. The firm has a market cap of $460.62, a price-to-earnings ratio of 12.07 and a beta of 1.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 0.81.

Capital Product Partners (NASDAQ:CPLP) last announced its quarterly earnings results on Friday, October 27th. The shipping company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. Capital Product Partners had a net margin of 17.17% and a return on equity of 4.70%. The firm had revenue of $62.68 million during the quarter, compared to the consensus estimate of $59.71 million. sell-side analysts predict that Capital Product Partners will post 0.24 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in Capital Product Partners by 0.8% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 66,107 shares of the shipping company’s stock valued at $225,000 after purchasing an additional 523 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Capital Product Partners by 4.6% in the second quarter. Private Advisor Group LLC now owns 80,419 shares of the shipping company’s stock worth $296,000 after acquiring an additional 3,518 shares during the last quarter. Eagle Boston Investment Management Inc. raised its stake in shares of Capital Product Partners by 1.1% in the second quarter. Eagle Boston Investment Management Inc. now owns 517,360 shares of the shipping company’s stock worth $1,759,000 after acquiring an additional 5,766 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Capital Product Partners by 6.8% in the second quarter. Wells Fargo & Company MN now owns 100,914 shares of the shipping company’s stock worth $343,000 after acquiring an additional 6,450 shares during the last quarter. Finally, Citadel Advisors LLC raised its stake in shares of Capital Product Partners by 60.6% in the second quarter. Citadel Advisors LLC now owns 43,243 shares of the shipping company’s stock worth $147,000 after acquiring an additional 16,318 shares during the last quarter. 19.24% of the stock is owned by hedge funds and other institutional investors.

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About Capital Product Partners

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.

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