StockNews.com Downgrades CrossAmerica Partners (NYSE:CAPL) to Buy

CrossAmerica Partners (NYSE:CAPL) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Sunday.

CrossAmerica Partners Stock Performance

Shares of CrossAmerica Partners stock opened at $21.06 on Friday. The firm has a market cap of $800.85 million, a PE ratio of 34.52 and a beta of 1.51. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $24.19. The firm’s 50-day simple moving average is $20.61 and its 200-day simple moving average is $20.64.

CrossAmerica Partners (NYSE:CAPL) last released its earnings results on Wednesday, August 7th. The oil and gas company reported $0.16 EPS for the quarter, topping 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 company had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.27 billion. On average, equities analysts predict that CrossAmerica Partners will post 0.46 earnings per share for the current year.

Institutional Trading of CrossAmerica Partners

Several institutional investors have recently added to or reduced their stakes in CAPL. American Financial Group Inc. boosted its holdings in shares of CrossAmerica Partners by 3.7% in the 1st quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock valued at $319,000 after buying an additional 500 shares during the period. BNP Paribas Financial Markets boosted its stake in CrossAmerica Partners by 1.9% in the first quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after acquiring an additional 565 shares during the period. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the first quarter valued at approximately $31,000. Janney Montgomery Scott LLC grew its holdings in shares of 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 valued at $470,000 after purchasing an additional 1,872 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of CrossAmerica Partners by 376.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,531 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

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.