CrossAmerica Partners (NYSE:CAPL) Upgraded by Zacks Research to “Strong-Buy” Rating

CrossAmerica Partners (NYSE:CAPL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages also recently weighed in on CAPL. Wall Street Zen upgraded CrossAmerica Partners from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings raised shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, CrossAmerica Partners presently has an average rating of “Buy”.

CrossAmerica Partners Stock Performance

Shares of CrossAmerica Partners stock opened at $20.82 on Monday. CrossAmerica Partners has a 1 year low of $19.61 and a 1 year high of $25.73. The firm’s 50-day simple moving average is $21.60 and its 200-day simple moving average is $20.99. The firm has a market cap of $793.87 million, a PE ratio of 20.21 and a beta of 0.39.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.11. CrossAmerica Partners had a negative return on equity of 9.43% and a net margin of 1.14%.The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $748.01 million. On average, equities analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eastern Bank acquired a new stake in shares of CrossAmerica Partners in the 3rd quarter worth about $26,000. CWM LLC grew its holdings in CrossAmerica Partners by 35.5% in the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock worth $70,000 after buying an additional 887 shares in the last quarter. Wells Fargo & Company MN increased its position in CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 1,869 shares during the period. Royal Bank of Canada increased its position in CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company’s stock valued at $153,000 after acquiring an additional 2,422 shares during the period. Finally, Motiv8 Investments LLC bought a new stake in CrossAmerica Partners during the 4th quarter valued at $193,000. Institutional investors and hedge funds own 24.06% of the company’s stock.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.