Crossamerica Partners (NYSE:CAPL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
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 analysts have also recently issued reports on the company. B. Riley set a $30.00 price objective on Crossamerica Partners and gave the stock a “buy” rating in a research note on Monday, December 18th. Robert W. Baird cut Crossamerica Partners from an “outperform” rating to a “neutral” rating in a research note on Wednesday, February 28th. ValuEngine upgraded Crossamerica Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Jefferies Group restated a “buy” rating and set a $28.00 price objective on shares of Crossamerica Partners in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Crossamerica Partners has an average rating of “Hold” and a consensus price target of $28.83.
A number of hedge funds have recently bought and sold shares of CAPL. Ameriprise Financial Inc. lifted its stake in Crossamerica Partners by 71.3% in the second quarter. Ameriprise Financial Inc. now owns 17,339 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 7,217 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in Crossamerica Partners in the third quarter valued at $272,000. Harvest Fund Advisors LLC lifted its stake in Crossamerica Partners by 4.8% in the third quarter. Harvest Fund Advisors LLC now owns 3,075,007 shares of the oil and gas company’s stock valued at $83,794,000 after buying an additional 141,143 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Crossamerica Partners by 2.3% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 315,232 shares of the oil and gas company’s stock valued at $8,590,000 after buying an additional 6,946 shares during the last quarter. Finally, Neuberger Berman Group LLC bought a new stake in Crossamerica Partners in the third quarter valued at $602,000. Institutional investors own 33.67% of the company’s stock.
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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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