Crossamerica Partners LP (CAPL) Expected to Post Quarterly Sales of $577.94 Million
Equities research analysts forecast that Crossamerica Partners LP (NYSE:CAPL) will post $577.94 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Crossamerica Partners’ earnings, with estimates ranging from $532.00 million to $696.10 million. Crossamerica Partners reported sales of $487.95 million during the same quarter last year, which indicates a positive year-over-year growth rate of 18.4%. The business is scheduled to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Crossamerica Partners will report full year sales of $577.94 million for the current year, with estimates ranging from $2.00 billion to $2.37 billion. For the next year, analysts forecast that the company will post sales of $2.47 billion per share, with estimates ranging from $2.07 billion to $3.02 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Crossamerica Partners.
Crossamerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Crossamerica Partners had a negative net margin of 0.76% and a negative return on equity of 10.37%. The company had revenue of $528.79 million during the quarter, compared to analyst estimates of $596.92 million.
Several equities research analysts have recently weighed in on CAPL shares. Zacks Investment Research upgraded Crossamerica Partners from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research report on Tuesday, July 11th. BidaskClub upgraded shares of Crossamerica Partners from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Bank of America Corporation cut shares of Crossamerica Partners from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $28.00 to $30.00 in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. upped their price objective on shares of Crossamerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Crossamerica Partners has an average rating of “Buy” and an average price target of $30.00.
In related news, insider Jeremy Bergeron acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $26.03 per share, for a total transaction of $39,045.00. Following the completion of the transaction, the insider now owns 11,061 shares in the company, valued at $287,917.83. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Reilly III acquired 1,602 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $25.91 per share, for a total transaction of $41,507.82. Following the completion of the transaction, the director now owns 192,471 shares of the company’s stock, valued at approximately $4,986,923.61. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 83,178 shares of company stock worth $2,182,216.
Several hedge funds have recently bought and sold shares of CAPL. Stephens Inc. AR increased its position in shares of Crossamerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock worth $235,000 after purchasing an additional 685 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Crossamerica Partners in the second quarter worth approximately $255,000. Ameriprise Financial Inc. bought a new position in shares of Crossamerica Partners in the first quarter worth approximately $265,000. Wells Fargo & Company MN increased its position in shares of Crossamerica Partners by 2.3% in the first quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after purchasing an additional 412 shares during the last quarter. Finally, Cowen Inc. bought a new position in shares of Crossamerica Partners in the second quarter worth approximately $510,000. Institutional investors own 35.05% of the company’s stock.
Shares of Crossamerica Partners (CAPL) opened at 27.00 on Thursday. Crossamerica Partners has a 1-year low of $23.26 and a 1-year high of $29.80. The stock has a 50 day moving average of $26.78 and a 200-day moving average of $25.68. The firm’s market capitalization is $914.22 million.
About Crossamerica Partners
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 wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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