BidaskClub Downgrades CrossAmerica Partners LP (CAPL) to Sell
CrossAmerica Partners LP (NYSE:CAPL) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.
CAPL has been the subject of a number of other research reports. Zacks Investment Research lowered CrossAmerica Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Raymond James Financial, Inc. upped their price target on CrossAmerica Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. Finally, Bank of America Corporation lowered CrossAmerica Partners from a “buy” rating to a “neutral” rating and upped their price target for the company from $28.00 to $30.00 in a research report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $30.00.
Shares of CrossAmerica Partners (CAPL) opened at 27.20 on Friday. The company’s 50-day moving average price is $27.02 and its 200 day moving average price is $25.94. The firm’s market cap is $920.99 million. CrossAmerica Partners has a 1-year low of $23.26 and a 1-year high of $29.80.
CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The business had revenue of $528.79 million for the quarter, compared to the consensus estimate of $596.92 million. CrossAmerica Partners had a net margin of 0.06% and a return on equity of 4.11%. On average, analysts predict that CrossAmerica Partners will post ($0.02) EPS for the current year.
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In other news, insider Jeremy Bergeron bought 1,500 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was purchased at an average price of $26.03 per share, with a total value of $39,045.00. Following the transaction, the insider now owns 11,061 shares of the company’s stock, valued at $287,917.83. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John B. Reilly III bought 1,602 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $25.91 per share, with a total value of $41,507.82. Following the transaction, the director now directly owns 192,471 shares in the company, valued at approximately $4,986,923.61. The disclosure for this purchase can be found here. Insiders bought a total of 122,235 shares of company stock valued at $3,257,064 in the last three months.
Large investors have recently made changes to their positions in the company. Stephens Inc. AR raised its position in shares of CrossAmerica Partners by 8.2% in the 1st quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock worth $235,000 after acquiring an additional 685 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of CrossAmerica Partners in the 2nd quarter worth approximately $255,000. Ameriprise Financial Inc. purchased a new stake in shares of CrossAmerica Partners in the 1st quarter worth approximately $265,000. Wells Fargo & Company MN grew its stake in shares of CrossAmerica Partners by 2.3% in the 1st quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after buying an additional 412 shares during the last quarter. Finally, Cowen Inc. purchased a new stake in shares of CrossAmerica Partners in the 2nd quarter worth approximately $510,000. 35.05% of the stock is owned by hedge funds and other institutional investors.
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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