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

CrossAmerica Partners (NYSE:CAPL) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, TheStreet cut CrossAmerica Partners from a “b-” rating to a “c+” rating in a report on Tuesday, February 27th.

CrossAmerica Partners Price Performance

Shares of CAPL traded down $1.12 during mid-day trading on Thursday, reaching $21.05. The company had a trading volume of 116,560 shares, compared to its average volume of 37,811. CrossAmerica Partners has a twelve month low of $17.91 and a twelve month high of $24.19. The company has a debt-to-equity ratio of 250.71, a current ratio of 0.67 and a quick ratio of 0.35. The company’s 50-day moving average is $22.53 and its 200-day moving average is $22.57. The company has a market capitalization of $799.54 million, a P/E ratio of 20.05 and a beta of 1.52.

CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Monday, February 26th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. CrossAmerica Partners had a return on equity of 197.82% and a net margin of 0.93%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.11 billion. On average, equities analysts anticipate that CrossAmerica Partners will post 0.71 EPS for the current year.

Institutional Investors Weigh In On CrossAmerica Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of CrossAmerica Partners by 4.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 646,510 shares of the oil and gas company’s stock valued at $14,023,000 after buying an additional 24,730 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of CrossAmerica Partners by 0.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 205,698 shares of the oil and gas company’s stock worth $4,688,000 after purchasing an additional 823 shares during the last quarter. Raymond James & Associates boosted its position in shares of CrossAmerica Partners by 0.9% in the 4th quarter. Raymond James & Associates now owns 87,923 shares of the oil and gas company’s stock worth $2,005,000 after purchasing an additional 774 shares during the last quarter. Blackstone Inc. boosted its position in shares of CrossAmerica Partners by 1.5% in the 3rd quarter. Blackstone Inc. now owns 75,163 shares of the oil and gas company’s stock worth $1,630,000 after purchasing an additional 1,102 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of CrossAmerica Partners by 79.7% in the 1st quarter. GSA Capital Partners LLP now owns 36,412 shares of the oil and gas company’s stock worth $830,000 after purchasing an additional 16,153 shares during the last quarter. 24.06% of the stock is owned by institutional investors and hedge funds.

CrossAmerica Partners Company Profile

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.