CrossAmerica Partners (NYSE:CAPL) Rating Lowered to Buy at StockNews.com

CrossAmerica Partners (NYSE:CAPL) was downgraded by research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Friday.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $23.20 on Friday. CrossAmerica Partners has a 52 week low of $18.43 and a 52 week high of $23.60. The stock has a market capitalization of $882.50 million, a price-to-earnings ratio of 44.61 and a beta of 1.47. The stock has a fifty day moving average of $22.42 and a 200-day moving average of $21.35.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.38. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The firm had revenue of $944.22 million for the quarter, compared to analyst estimates of $1.21 billion. As a group, equities analysts forecast that CrossAmerica Partners will post 0.42 EPS for the current year.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently bought and sold shares of the business. Allworth Financial LP acquired a new stake in shares of CrossAmerica Partners in the 4th quarter worth about $44,000. EverSource Wealth Advisors LLC lifted its position in shares of CrossAmerica Partners by 47.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 3,731 shares of the oil and gas company’s stock valued at $82,000 after purchasing an additional 1,200 shares in the last quarter. Sonora Investment Management Group LLC bought a new stake in CrossAmerica Partners in the 4th quarter worth about $224,000. Franklin Resources Inc. purchased a new stake in CrossAmerica Partners in the 3rd quarter valued at about $279,000. Finally, Sanctuary Advisors LLC lifted its position in shares of CrossAmerica Partners by 5.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,554 shares of the oil and gas company’s stock worth $377,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds 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.