Calumet, Inc. (CLMT) Surges 12.1%: Is This an Indication of Further Gains?

Calumet, Inc. (CLMT) shares soared 12.1% in the last trading session to close at $16.83. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 31.8% loss over the past four weeks.The bullishness can be attributed to the strong demand for Calumet’s specialty products and renewable fuels. The company’s diverse portfolio, which includes base oils, specialty oils, waxes, and fuels, continues to meet and exceed customer expectations. CLMT's strategic focus on delivering high-quality products to key industries such as transportation, industrial, food and agriculture, and personal care positions the company for continued growth. This commitment to innovation and sustainability strengthens its competitive advantage, acting as a key growth driver for the business.This company is expected to post quarterly loss of $1.06 per share in its upcoming report, which represents a year-over-year change of -34.2%. Revenues are expected to be $943.05 million, down 3.4% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Calumet, Inc., the consensus EPS estimate for the quarter has been revised 4.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on CLMT going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Calumet, Inc. is part of the Zacks Oil and Gas - Integrated - United States industry. DT Midstream (DTM), another stock in the same industry, closed the last trading session 1.6% higher at $100.56. DTM has returned -0.4% in the past month.DT Midstream's consensus EPS estimate for the upcoming report has changed +0.2% over the past month to $0.91. Compared to the company's year-ago EPS, this represents a change of -26.6%. DT Midstream currently boasts a Zacks Rank of #2 (Buy).5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Calumet, Inc. (CLMT): Free Stock Analysis Report DT Midstream, Inc. (DTM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks