Zacks Investment Research upgraded shares of CrossAmerica Partners LP (NYSE:CAPL) from a hold rating to a buy rating in a research note published on Thursday, May 11th. They currently have $28.00 price objective on the oil and gas company’s stock.
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. “
Several other equities research analysts have also commented on the company. FBR & Co restated a buy rating on shares of CrossAmerica Partners in a research report on Wednesday, March 15th. Royal Bank of Canada restated a hold rating and set a $27.00 target price on shares of CrossAmerica Partners in a research report on Thursday, April 13th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. CrossAmerica Partners presently has an average rating of Buy and a consensus price target of $29.00.
CrossAmerica Partners (CAPL) opened at 24.69 on Thursday. The company has a market cap of $832.70 million, a PE ratio of 118.13 and a beta of 1.34. CrossAmerica Partners has a 12-month low of $23.01 and a 12-month high of $27.94. The stock’s 50 day moving average price is $24.79 and its 200 day moving average price is $25.58.
CrossAmerica Partners (NYSE:CAPL) last announced its earnings results on Monday, May 8th. The oil and gas company reported $0.02 EPS for the quarter, missing the 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 business had revenue of $469.29 million for the quarter, compared to the consensus estimate of $494.04 million. Equities research analysts anticipate that CrossAmerica Partners will post $0.30 EPS for the current year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Stephens Inc. AR purchased a new position in shares of CrossAmerica Partners during the third quarter valued at about $201,000. Ameriprise Financial Inc. purchased a new position in shares of CrossAmerica Partners during the first quarter valued at about $265,000. Wells Fargo & Company MN raised its position in shares of 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 valued at $336,000 after buying an additional 1,519 shares during the last quarter. Credit Suisse AG raised its position in shares of 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 valued at $628,000 after buying an additional 1,523 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of CrossAmerica Partners by 16.8% in the fourth quarter. GSA Capital Partners LLP now owns 36,700 shares of the oil and gas company’s stock valued at $924,000 after buying an additional 5,274 shares during the last quarter. Institutional investors and hedge funds 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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