CrossAmerica Partners (NYSE:CAPL) Downgraded by StockNews.com

CrossAmerica Partners (NYSE:CAPL) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

CrossAmerica Partners Trading Down 0.4 %

CAPL traded down $0.09 during trading on Friday, hitting $20.82. 42,021 shares of the company’s stock were exchanged, compared to its average volume of 38,388. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $24.19. The stock has a 50 day moving average price of $19.86 and a 200 day moving average price of $20.85. The firm has a market cap of $791.78 million, a P/E ratio of 34.13 and a beta of 1.51. The company has a current ratio of 0.76, a quick ratio of 0.37 and a debt-to-equity ratio of 250.71.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.10. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. As a group, analysts expect that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners in the 1st quarter worth approximately $31,000. GSA Capital Partners LLP raised its holdings in shares of CrossAmerica Partners by 79.7% during the first quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock worth $830,000 after purchasing an additional 16,153 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,872 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of CrossAmerica Partners in the 1st quarter worth about $205,000. Finally, Tortoise Index Solutions LLC grew its position in shares of CrossAmerica Partners by 12.9% during the 4th quarter. Tortoise Index Solutions LLC now owns 24,095 shares of the oil and gas company’s stock valued at $549,000 after buying an additional 2,745 shares during the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.