StockNews.com Upgrades CrossAmerica Partners (NYSE:CAPL) to Strong-Buy

CrossAmerica Partners (NYSE:CAPL) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

CrossAmerica Partners Stock Up 0.1 %

NYSE:CAPL opened at $23.34 on Friday. The firm’s fifty day simple moving average is $22.57 and its 200 day simple moving average is $21.44. The stock has a market cap of $887.83 million, a P/E ratio of 44.88 and a beta of 1.47. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $23.97.

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

Institutional Investors Weigh In On CrossAmerica Partners

Hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in CrossAmerica Partners during the fourth quarter valued at $6,245,000. NewEdge Wealth LLC increased its stake in shares of CrossAmerica Partners by 112.7% in the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock worth $1,567,000 after acquiring an additional 37,736 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after acquiring an additional 28,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CrossAmerica Partners by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock valued at $12,494,000 after acquiring an additional 28,758 shares during the period. Finally, Franklin Resources Inc. bought a new stake in CrossAmerica Partners during the third quarter worth about $279,000. 24.06% of the stock is currently owned by institutional investors.

CrossAmerica Partners Company Profile

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.