Janney Capital Upgrades CSI Compressco LP to Buy with Price Target $12.00

Brokerage firm Janney Capital Upgrades its rating on CSI Compressco LP(NASDAQ:CCLP). In a research note issued to the investors, the brokerage major Raises the price-target to $12.00 per share. The shares have been rated Buy. Previously, the analysts had a Neutral rating on the shares. The rating by Janney Capital was issued on Sep 23, 2016.

CSI Compressco LP (CCLP) shares turned negative on Tuesdays trading session with the shares closing down -0.24 points or -2.39% at a volume of 35,811. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.22. The peak price level was also seen at $10.22 while the days lowest was $9.81. Finally the shares closed at $9.82. The 52-week high of the shares is $15.27 while the 52-week low is $3.74. According to the latest information available, the market cap of the company is $326 M.

CSI Compressco LP(CCLP) last announced its earnings results on Aug 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $76.09M. Analysts had an estimated revenue of $79.98M. Earnings per share were $-0.14. Analysts had estimated an EPS of $-0.11.

Several Insider Transactions has been reported to the SEC. On Mar 17, 2016, Ronald J. Foster (SR VP Sales & Marketing) purchased 725 shares at $5.11 per share price.Also, On Sep 14, 2015, Timothy A. Knox (President – CSI Compressco) purchased 2,000 shares at $12.80 per share price.

CSI Compressco LP formerly Compressco Partners L.P. is a provider of compression services and equipment for natural gas and oil production gathering transportation processing and storage. The Company fabricates and sells custom-designed compressor packages and oilfield fluid pump systems and provides aftermarket services and compressor package parts and components manufactured by third-party suppliers. It provides these compression services and equipment to a base of natural gas and oil exploration and production midstream and transmission companies. It is a service provider of natural gas compression services utilizing its fleet of compressor packages that employs a spectrum of low- medium- and high-horsepower engines. Its applications include gas gathering gas lift carbon dioxide injection wellhead compression gas storage refrigeration plant compression gas processing pressure maintenance pipeline transmission vapor recovery and gas transmission among others.

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