CrossAmerica Partners (NYSE:CAPL) Downgraded by 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 Friday.

CrossAmerica Partners Stock Performance

Shares of CAPL opened at $21.13 on Friday. The company has a debt-to-equity ratio of 250.71, a quick ratio of 0.37 and a current ratio of 0.76. The stock has a 50-day moving average of $20.18 and a two-hundred day moving average of $20.76. The stock has a market cap of $803.32 million, a P/E ratio of 34.63 and a beta of 1.51. CrossAmerica Partners has a one year low of $18.43 and a one year high of $24.19.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, August 7th. The oil and gas company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.10. CrossAmerica Partners had a negative return on equity of 314.20% and a net margin of 0.51%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.27 billion. As a group, research analysts predict that CrossAmerica Partners will post 0.46 EPS for the current year.

Hedge Funds Weigh In On CrossAmerica Partners

Several hedge funds and other institutional investors have recently modified their holdings of the business. Acadian Asset Management LLC acquired a new stake in shares of CrossAmerica Partners in the 1st quarter worth $31,000. GSA Capital Partners LLP raised its stake in CrossAmerica Partners by 79.7% during the first 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 period. Janney Montgomery Scott LLC raised its stake in CrossAmerica Partners by 10.0% during the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after purchasing an additional 1,872 shares during the period. B. Riley Wealth Advisors Inc. acquired a new position in CrossAmerica Partners in the 1st quarter valued at about $205,000. Finally, Tortoise Index Solutions LLC grew its stake in shares of CrossAmerica Partners by 12.9% in the 4th quarter. Tortoise Index Solutions LLC now owns 24,095 shares of the oil and gas company’s stock valued at $549,000 after buying an additional 2,745 shares during the period. 24.06% of the stock is owned by hedge funds and other institutional investors.

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.