Zacks Investment Research downgraded shares of Crossamerica Partners LP (NYSE:CAPL) from a buy rating to a hold rating in a research report report published on Friday.
According to Zacks, “CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. CrossAmerica Partners LP, formerly known as Lehigh Gas Partners LP, is headquartered in Allentown, Pennsylvania. “
A number of other equities analysts also recently commented on CAPL. Royal Bank of Canada cut their price objective on Crossamerica Partners from $28.00 to $27.00 and set a sector perform rating on the stock in a report on Thursday, March 9th. FBR & Co restated a buy rating on shares of Crossamerica Partners in a report on Wednesday, March 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $29.00.
Crossamerica Partners (NYSE:CAPL) opened at 24.87 on Friday. The firm has a market capitalization of $838.77 million, a P/E ratio of 119.00 and a beta of 1.36. Crossamerica Partners has a 52-week low of $22.50 and a 52-week high of $27.94. The firm has a 50-day moving average price of $25.49 and a 200 day moving average price of $25.76.
Crossamerica Partners (NYSE:CAPL) last released its quarterly earnings data on Monday, May 8th. The oil and gas company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. The firm had revenue of $469.29 million during the quarter, compared to analysts’ expectations of $494.04 million. Crossamerica Partners had a return on equity of 4.43% and a net margin of 0.60%. Analysts forecast that Crossamerica Partners will post $0.38 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Monday, May 8th were paid a $0.6175 dividend. The ex-dividend date was Thursday, May 4th. This represents a $2.47 dividend on an annualized basis and a dividend yield of 9.93%. This is a positive change from Crossamerica Partners’s previous quarterly dividend of $0.51. Crossamerica Partners’s dividend payout ratio (DPR) is 875.00%.
Several large investors have recently bought and sold shares of CAPL. Stephens Inc. AR bought a new stake in Crossamerica Partners during the third quarter worth about $201,000. Mountain Lake Investment Management LLC raised its stake in Crossamerica Partners by 4.6% in the third quarter. Mountain Lake Investment Management LLC now owns 591,100 shares of the oil and gas company’s stock worth $15,008,000 after buying an additional 26,100 shares during the period. Wells Fargo & Company MN raised its stake in Crossamerica Partners by 12.9% in the third quarter. Wells Fargo & Company MN now owns 13,250 shares of the oil and gas company’s stock worth $336,000 after buying an additional 1,519 shares during the period. Credit Suisse AG raised its stake in Crossamerica Partners by 6.8% in the first quarter. Credit Suisse AG now owns 23,954 shares of the oil and gas company’s stock worth $628,000 after buying an additional 1,523 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Crossamerica Partners by 11.3% in the first quarter. OppenheimerFunds Inc. now owns 3,036,037 shares of the oil and gas company’s stock worth $79,483,000 after buying an additional 307,680 shares during the period. Institutional investors and hedge funds own 35.30% of the company’s stock.
About Crossamerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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