StockNews.com Lowers CrossAmerica Partners (NYSE:CAPL) to Buy

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a report released on Sunday morning.

CrossAmerica Partners Stock Performance

CAPL opened at $21.06 on Friday. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $24.19. The firm has a 50 day moving average price of $20.63 and a 200 day moving average price of $20.63. The company has a market cap of $800.66 million, a PE ratio of 34.52 and a beta of 1.51.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.10. CrossAmerica Partners had a net margin of 0.51% and a negative return on equity of 314.20%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.27 billion. On average, sell-side analysts predict that CrossAmerica Partners will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CAPL. SpiderRock Advisors LLC purchased a new stake in shares of CrossAmerica Partners during the 1st quarter valued at about $325,000. BNP Paribas Financial Markets lifted its position in shares of CrossAmerica Partners by 1.9% during the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock worth $706,000 after purchasing an additional 565 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of CrossAmerica Partners by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock valued at $470,000 after purchasing an additional 1,872 shares during the period. GSA Capital Partners LLP grew its holdings in CrossAmerica Partners by 79.7% during the 1st quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock valued at $830,000 after purchasing an additional 16,153 shares in the last quarter. Finally, American Financial Group Inc. increased its stake in CrossAmerica Partners by 3.7% during the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after buying an additional 500 shares during the period. 24.06% of the stock is owned by hedge funds and other institutional investors.

About CrossAmerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, operation of convenience stores, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. It operates in two segments, Wholesale and Retail. The Wholesale segment engages in the wholesale distribution of motor fuels to lessee dealers, independent dealers, commission agents, and company operated retail sites.