StockNews.com Lowers CrossAmerica Partners (NYSE:CAPL) to Buy

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

CrossAmerica Partners Price Performance

NYSE CAPL opened at $21.10 on Friday. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19. The business has a 50 day simple moving average of $20.61 and a two-hundred day simple moving average of $20.66. The stock has a market capitalization of $802.37 million, a PE ratio of 34.59 and a beta of 1.51.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.27 billion. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. On average, analysts anticipate that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CAPL. Acadian Asset Management LLC bought a new position in shares of CrossAmerica Partners in the first quarter worth about $31,000. GSA Capital Partners LLP increased its position 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 acquiring an additional 16,153 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of CrossAmerica Partners during the first quarter worth approximately $205,000. Janney Montgomery Scott LLC raised its stake 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 valued at $470,000 after acquiring an additional 1,872 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of CrossAmerica Partners by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after purchasing an additional 565 shares during the period. Hedge funds and other institutional investors own 24.06% of the company’s stock.

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.