Zacks Research Downgrades CrossAmerica Partners (NYSE:CAPL) to Hold

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

Several other research firms have also issued reports on CAPL. Wall Street Zen raised CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Weiss Ratings raised CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, June 11th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners currently has a consensus rating of “Hold”.

CrossAmerica Partners Price Performance

NYSE CAPL opened at $22.58 on Monday. The company has a fifty day moving average price of $22.11 and a 200-day moving average price of $21.70. The firm has a market cap of $861.20 million, a price-to-earnings ratio of 15.16 and a beta of 0.29. CrossAmerica Partners has a 1 year low of $19.61 and a 1 year high of $23.34.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.42. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. The business had revenue of $841.83 million for the quarter, compared to analysts’ expectations of $697.31 million. On average, research analysts anticipate that CrossAmerica Partners will post 0.93 EPS for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently bought and sold shares of CAPL. NewEdge Advisors LLC increased its position in CrossAmerica Partners by 40.0% in the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after buying an additional 600 shares during the last quarter. CWM LLC lifted its position in shares of CrossAmerica Partners by 35.5% during the 4th quarter. CWM LLC now owns 3,387 shares of the oil and gas company’s stock valued at $70,000 after buying an additional 887 shares during the last quarter. North Star Investment Management Corp. bought a new position in shares of CrossAmerica Partners during the 1st quarter worth $105,000. Wells Fargo & Company MN increased its holdings 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 during the last quarter. Finally, Royal Bank of Canada raised 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 valued at $153,000 after acquiring an additional 2,422 shares during the period. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Company Profile

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.