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

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

Several other research analysts also recently weighed in on the stock. Weiss Ratings raised shares of CrossAmerica Partners from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Wall Street Zen upgraded CrossAmerica Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners presently has an average rating of “Hold”.

CrossAmerica Partners Trading Up 0.5%

Shares of NYSE:CAPL opened at $22.58 on Monday. The stock has a 50 day moving average of $22.11 and a 200 day moving average of $21.70. The company has a market cap of $861.20 million, a PE ratio of 15.16 and a beta of 0.29. CrossAmerica Partners has a 12-month low of $19.61 and a 12-month high of $23.34.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.42. The business had revenue of $841.83 million for the quarter, compared to the consensus estimate of $697.31 million. CrossAmerica Partners had a net margin of 1.64% and a negative return on equity of 22.21%. Equities research analysts predict that CrossAmerica Partners will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CrossAmerica Partners

Several large investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC lifted its stake in shares of CrossAmerica Partners by 40.0% in the 1st quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 600 shares during the last quarter. Gateway Wealth Partners LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter worth about $214,000. Sei Investments Co. bought a new stake in shares of CrossAmerica Partners in the 1st quarter worth about $278,000. NewEdge Wealth LLC grew its holdings in CrossAmerica Partners by 1.3% during the 1st quarter. NewEdge Wealth LLC now owns 93,975 shares of the oil and gas company’s stock valued at $1,953,000 after purchasing an additional 1,213 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in CrossAmerica Partners by 5.9% during the 1st quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company’s stock valued at $3,948,000 after purchasing an additional 10,640 shares during the last quarter. 24.06% of the stock is owned by institutional investors.

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.