Zacks Research Upgrades CrossAmerica Partners (NYSE:CAPL) to Strong-Buy

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

Other equities analysts have also recently issued reports about the stock. Wall Street Zen raised shares of CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 9th. Weiss Ratings raised CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy”.

CrossAmerica Partners Stock Performance

NYSE CAPL opened at $22.01 on Wednesday. The company has a market cap of $839.05 million, a P/E ratio of 14.77 and a beta of 0.29. The business’s 50 day moving average price is $21.61 and its 200-day moving average price is $21.42. CrossAmerica Partners has a fifty-two week low of $19.61 and a fifty-two week high of $23.34.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%.The firm had revenue of $841.83 million for the quarter, compared to the consensus estimate of $697.31 million. As a group, equities analysts predict that CrossAmerica Partners will post 0.93 EPS for the current year.

Hedge Funds Weigh In On CrossAmerica Partners

Hedge funds have recently bought and sold shares of the business. CWM LLC grew its position 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 valued at $70,000 after acquiring an additional 887 shares during the last quarter. North Star Investment Management Corp. bought a new position in CrossAmerica Partners in the 1st quarter worth about $105,000. Wells Fargo & Company MN grew its stake 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 worth $128,000 after acquiring an additional 1,869 shares in the last quarter. Royal Bank of Canada grew its stake 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 worth $153,000 after acquiring an additional 2,422 shares in the last quarter. Finally, Motiv8 Investments LLC bought a new position in CrossAmerica Partners in the 4th quarter worth about $193,000. Institutional investors 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.