CrossAmerica Partners (NYSE:CAPL) Lowered to Buy Rating by StockNews.com

CrossAmerica Partners (NYSE:CAPL) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

CrossAmerica Partners Price Performance

Shares of CAPL opened at $23.59 on Friday. CrossAmerica Partners has a 12 month low of $18.43 and a 12 month high of $23.97. The stock has a fifty day moving average price of $22.78 and a 200 day moving average price of $21.63. The company has a market cap of $897.72 million, a P/E ratio of 45.36 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.38. The business had revenue of $944.22 million for the quarter, compared to analysts’ expectations of $1.21 billion. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. As a group, research analysts anticipate that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Institutional Investors Weigh In On CrossAmerica Partners

Institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of CrossAmerica Partners by 5.3% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock worth $12,494,000 after buying an additional 28,758 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in CrossAmerica Partners by 8.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock valued at $7,485,000 after purchasing an additional 28,991 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CrossAmerica Partners during the 4th quarter valued at $6,245,000. Quadrant Private Wealth Management LLC raised its stake in shares of CrossAmerica Partners by 0.5% in the 4th quarter. Quadrant Private Wealth Management LLC now owns 164,543 shares of the oil and gas company’s stock worth $3,620,000 after buying an additional 775 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of CrossAmerica Partners by 6.2% in the fourth quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company’s stock valued at $2,363,000 after buying an additional 6,306 shares during the period. Institutional investors and hedge funds own 24.06% of the company’s stock.

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.