Zacks Investment Research cut shares of Capital Product Partners (NASDAQ:CPLP) from a hold rating to a sell rating in a research report released on Wednesday.

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. “

Several other research firms also recently weighed in on CPLP. ValuEngine downgraded Capital Product Partners from a buy rating to a hold rating in a report on Friday, September 1st. BidaskClub upgraded Capital Product Partners from a strong sell rating to a sell rating in a report on Tuesday, December 12th. Finally, Jefferies Group started coverage on shares of Capital Product Partners in a report on Monday, December 18th. They issued a buy rating and a $5.00 target price for the company. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $4.75.

Shares of Capital Product Partners (CPLP) opened at $3.37 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.81 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $455.21, a PE ratio of 12.04 and a beta of 1.58. Capital Product Partners has a fifty-two week low of $3.10 and a fifty-two week high of $4.00.

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

Institutional investors have recently made changes to their positions in the business. Goodman Financial Corp purchased a new stake in shares of Capital Product Partners during the third quarter worth about $2,768,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Capital Product Partners during the second quarter worth about $3,202,000. JPMorgan Chase & Co. grew its stake in shares of Capital Product Partners by 10.7% during the second quarter. JPMorgan Chase & Co. now owns 927,069 shares of the shipping company’s stock worth $3,152,000 after acquiring an additional 89,279 shares during the last quarter. Wells Fargo & Company MN grew its stake in shares of Capital Product Partners by 6.8% during 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, Private Advisor Group LLC grew its stake in shares of Capital Product Partners by 4.6% during 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. Institutional investors and hedge funds own 19.24% of the company’s stock.

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Capital Product Partners Company Profile

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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