Capital Product Partners (NASDAQ:CPLP) Rating Increased to Buy at StockNews.com

Capital Product Partners (NASDAQ:CPLP – Get Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Capital Product Partners Stock Performance

NASDAQ CPLP opened at $12.58 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.35 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average is $13.21 and its two-hundred day moving average is $13.92. Capital Product Partners has a 12-month low of $11.93 and a 12-month high of $17.69. The stock has a market capitalization of $248.37 million, a price-to-earnings ratio of 2.03 and a beta of 0.88.

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Capital Product Partners (NASDAQ:CPLP – Get Rating) last released its quarterly earnings results on Friday, February 3rd. The shipping company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.07. The business had revenue of $76.08 million for the quarter, compared to analysts’ expectations of $71.38 million. Capital Product Partners had a return on equity of 13.55% and a net margin of 41.67%. Research analysts expect that Capital Product Partners will post 3.6 EPS for the current year.

Institutional Investors Weigh In On Capital Product Partners

A number of institutional investors and hedge funds have recently modified their holdings of CPLP. Goldman Sachs Group Inc. grew its holdings in shares of Capital Product Partners by 597.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 277,121 shares of the shipping company’s stock worth $5,052,000 after acquiring an additional 237,362 shares during the period. Donald Smith & CO. Inc. lifted its stake in Capital Product Partners by 16.9% in the 3rd quarter. Donald Smith & CO. Inc. now owns 1,529,718 shares of the shipping company’s stock valued at $20,483,000 after buying an additional 220,667 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Capital Product Partners by 51.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,697 shares of the shipping company’s stock valued at $2,513,000 after buying an additional 64,096 shares in the last quarter. State Street Corp purchased a new stake in Capital Product Partners in the 3rd quarter valued at approximately $857,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Capital Product Partners by 2,886,050.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 57,723 shares of the shipping company’s stock valued at $1,052,000 after buying an additional 57,721 shares in the last quarter. Institutional investors and hedge funds own 40.51% of the company’s stock.

Capital Product Partners Company Profile

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Capital Product Partners LP is a shipping company, which engages in the seaborne transportation of containerized goods and dry cargo. It owns panamax container and capesize bulk carrier vessels. The company was founded on January 16, 2007 and is headquartered in Piraeus, Greece.

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