CrossAmerica Partners LP (CAPL) Lowered to Hold at Zacks Investment Research

CrossAmerica Partners LP (NYSE:CAPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday, May 12th.

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. “

Other research analysts have also recently issued reports about the stock. Royal Bank Of Canada reissued a “hold” rating and set a $27.00 price objective on shares of CrossAmerica Partners in a research note on Thursday, April 13th. FBR & Co reissued a “buy” rating on shares of CrossAmerica Partners in a research note on Wednesday, March 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. CrossAmerica Partners presently has a consensus rating of “Buy” and an average price target of $29.00.

Analyst Recommendations for CrossAmerica Partners (NYSE:CAPL)

CrossAmerica Partners (NYSE:CAPL) traded up 0.16% during trading on Friday, hitting $24.69. The stock had a trading volume of 45,246 shares. CrossAmerica Partners has a 52-week low of $23.01 and a 52-week high of $27.94. The company has a market cap of $832.70 million, a price-to-earnings ratio of 118.13 and a beta of 1.34. The firm’s 50-day moving average price is $24.79 and its 200-day moving average price is $25.58.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Monday, May 8th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. CrossAmerica Partners had a net margin of 0.44% and a return on equity of 3.91%. The company had revenue of $469.29 million during the quarter, compared to analysts’ expectations of $494.04 million. Analysts predict that CrossAmerica Partners will post $0.30 EPS for the current fiscal year.

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Institutional investors have recently made changes to their positions in the stock. OppenheimerFunds Inc. raised its position in shares of 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. Mountain Lake Investment Management LLC raised its position in shares of 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. Iridian Asset Management LLC CT raised its position in shares of CrossAmerica Partners by 2.5% in the first quarter. Iridian Asset Management LLC CT now owns 159,681 shares of the oil and gas company’s stock worth $4,180,000 after buying an additional 3,820 shares during the period. Mutual of America Capital Management LLC raised its position in shares of CrossAmerica Partners by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 101,901 shares of the oil and gas company’s stock worth $2,668,000 after buying an additional 760 shares during the period. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of CrossAmerica Partners by 5.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 92,395 shares of the oil and gas company’s stock worth $2,419,000 after buying an additional 4,603 shares during the period. Institutional investors own 37.44% 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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