CrossAmerica Partners (NYSE:CAPL) Stock Rating Upgraded by StockNews.com

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

CrossAmerica Partners Stock Performance

NYSE:CAPL opened at $20.96 on Monday. The company has a market capitalization of $797.05 million, a price-to-earnings ratio of 34.36 and a beta of 1.51. CrossAmerica Partners has a one year low of $18.43 and a one year high of $24.19. The stock has a 50-day simple moving average of $20.82 and a 200 day simple moving average of $20.56.

CrossAmerica Partners (NYSE:CAPL) last posted its quarterly earnings results 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 the consensus estimate of $1.27 billion. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. On average, equities research analysts forecast that CrossAmerica Partners will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

A number of large investors have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in CrossAmerica Partners by 79.7% in 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 last quarter. BNP Paribas Financial Markets lifted its holdings in 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 worth $706,000 after acquiring an additional 565 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in CrossAmerica Partners by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,872 shares during the last quarter. Sanctuary Advisors LLC bought a new position in CrossAmerica Partners in the second quarter worth about $348,000. Finally, IFG Advisory LLC bought a new position in CrossAmerica Partners in the second quarter worth about $332,000. 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.