CrossAmerica Partners LP (CAPL) Given a $35.00 Price Target by FBR & Co Analysts
A number of other research firms also recently commented on CAPL. Zacks Investment Research downgraded shares of CrossAmerica Partners from a hold rating to a sell rating in a research note on Thursday, October 20th. Royal Bank Of Canada assumed coverage on shares of CrossAmerica Partners in a research note on Thursday, October 27th. They set a sector perform rating and a $28.00 price objective for the company. RBC Capital Markets assumed coverage on shares of CrossAmerica Partners in a research note on Thursday, October 27th. They set a sector perform rating and a $28.00 price objective for the company. Robert W. Baird reduced their price objective on shares of CrossAmerica Partners from $36.00 to $30.00 and set an outperform rating for the company in a research note on Tuesday, August 23rd. Finally, Bank of America Corp. assumed coverage on shares of CrossAmerica Partners in a research note on Wednesday, September 7th. They set a buy rating and a $27.00 price objective for the company. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $28.11.
Shares of CrossAmerica Partners (NYSE:CAPL) opened at 26.01 on Tuesday. The firm has a market capitalization of $871.67 million, a P/E ratio of 90.94 and a beta of 1.37. The firm’s 50-day moving average price is $25.97 and its 200-day moving average price is $24.91. CrossAmerica Partners has a 12-month low of $17.39 and a 12-month high of $27.91.
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The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Friday, November 4th were given a dividend of $0.6075 per share. This represents a $2.43 dividend on an annualized basis and a dividend yield of 9.34%. The ex-dividend date of this dividend was Wednesday, November 2nd. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s dividend payout ratio is presently 867.86%.
In other news, Director Joseph V. Jr. Topper purchased 15,000 shares of CrossAmerica Partners stock in a transaction that occurred on Thursday, September 1st. The shares were acquired at an average price of $25.92 per share, for a total transaction of $388,800.00. Following the transaction, the director now owns 159,334 shares of the company’s stock, valued at approximately $4,129,937.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Hedge funds have recently bought and sold shares of the company. US Bancorp DE raised its stake in CrossAmerica Partners by 29.8% in the second quarter. US Bancorp DE now owns 7,023 shares of the company’s stock valued at $172,000 after buying an additional 1,613 shares in the last quarter. Ameriprise Financial Inc. bought a new stake in shares of CrossAmerica Partners during the third quarter worth $200,000. Stephens Inc. AR bought a new stake in shares of CrossAmerica Partners during the third quarter worth $201,000. Mycio Wealth Partners LLC bought a new stake in shares of CrossAmerica Partners during the second quarter worth $229,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of CrossAmerica Partners by 1,111.1% in the third quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the company’s stock worth $246,000 after buying an additional 8,889 shares in the last quarter. Institutional investors and hedge funds own 35.34% of the company’s stock.
CrossAmerica Partners Company Profile
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia.
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