CrossAmerica Partners (NYSE:CAPL) Rating Lowered to Hold at Zacks Research

CrossAmerica Partners (NYSE:CAPL) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen upgraded shares of CrossAmerica Partners from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of CrossAmerica Partners from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

CrossAmerica Partners Stock Up 0.1%

CAPL traded up $0.01 during trading hours on Tuesday, hitting $21.10. 8,533 shares of the company’s stock were exchanged, compared to its average volume of 45,433. The stock has a market cap of $804.58 million, a price-to-earnings ratio of 20.49 and a beta of 0.35. The stock’s 50-day moving average is $21.26 and its two-hundred day moving average is $21.17. CrossAmerica Partners has a 1-year low of $19.61 and a 1-year high of $24.53.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, February 25th. The oil and gas company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.11. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $748.01 million. CrossAmerica Partners had a net margin of 1.14% and a negative return on equity of 9.43%. On average, equities research analysts anticipate that CrossAmerica Partners will post 0.43 EPS for the current year.

Hedge Funds Weigh In On CrossAmerica Partners

A number of hedge funds have recently bought and sold shares of CAPL. First Trust Advisors LP increased its position in CrossAmerica Partners by 22.9% during the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company’s stock worth $4,186,000 after acquiring an additional 37,093 shares during the period. 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 buying an additional 27,767 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners in the 1st quarter valued at approximately $535,000. NewEdge Wealth LLC raised its position in shares of CrossAmerica Partners by 25.4% in the 3rd quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company’s stock valued at $1,859,000 after buying an additional 18,798 shares in the last quarter. Finally, Lee Financial Co acquired a new position in shares of CrossAmerica Partners in the 3rd quarter valued at approximately $379,000. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Company Profile

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.