CrossAmerica Partners (NYSE:CAPL) Raised to “Strong-Buy” at StockNews.com

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

CrossAmerica Partners Price Performance

NYSE:CAPL opened at $20.15 on Friday. The company’s 50-day moving average is $20.98 and its two-hundred day moving average is $20.37. CrossAmerica Partners has a 1-year low of $18.43 and a 1-year high of $24.19. The firm has a market capitalization of $766.71 million, a price-to-earnings ratio of 38.75 and a beta of 1.50.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, November 6th. The oil and gas company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, equities analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its stake in CrossAmerica Partners by 18.8% during the third quarter. Thrivent Financial for Lutherans now owns 27,021 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 4,267 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in CrossAmerica Partners during the 2nd quarter worth about $348,000. EverSource Wealth Advisors LLC lifted its stake in CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 2,000 shares in the last quarter. IFG Advisory LLC purchased a new position in CrossAmerica Partners during the 2nd quarter valued at about $332,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in CrossAmerica Partners in the 1st quarter valued at about $205,000. 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.