CrossAmerica Partners (NYSE:CAPL) Stock Rating Upgraded by Zacks Research

CrossAmerica Partners (NYSE:CAPL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on CAPL. Wall Street Zen raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings raised CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy”.

CrossAmerica Partners Stock Performance

CAPL opened at $20.82 on Monday. CrossAmerica Partners has a 1 year low of $19.61 and a 1 year high of $25.73. The firm has a 50 day moving average price of $21.60 and a 200 day moving average price of $20.99. The company has a market cap of $793.87 million, a PE ratio of 20.21 and a beta of 0.39.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. CrossAmerica Partners had a net margin of 1.14% and a negative return on equity of 9.43%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $748.01 million. On average, sell-side analysts predict that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. First Trust Advisors LP boosted its holdings in CrossAmerica Partners by 22.9% in the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock valued at $4,186,000 after purchasing an additional 37,093 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CrossAmerica Partners by 4.8% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company’s stock valued at $12,774,000 after purchasing an additional 27,767 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of CrossAmerica Partners during the 1st quarter valued at approximately $535,000. NewEdge Wealth LLC grew its position in shares of CrossAmerica Partners by 25.4% during the third quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock worth $1,859,000 after buying an additional 18,798 shares in the last quarter. Finally, Lee Financial Co acquired a new stake in shares of CrossAmerica Partners during the third quarter worth approximately $379,000. Institutional investors and hedge funds own 24.06% of the company’s stock.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE:CAPL) is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco’s wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.