Zacks Investment Research Lowers Crossamerica Partners (NYSE:CAPL) to Hold

Crossamerica Partners (NYSE:CAPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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. “

Separately, ValuEngine cut Crossamerica Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of Crossamerica Partners stock traded up $0.15 during mid-day trading on Tuesday, reaching $17.21. 9,600 shares of the stock traded hands, compared to its average volume of 77,986. The business has a 50-day moving average of $17.11 and a 200 day moving average of $16.96. Crossamerica Partners has a fifty-two week low of $13.00 and a fifty-two week high of $19.07. The stock has a market capitalization of $589.27 million, a PE ratio of 156.45, a PEG ratio of 7.92 and a beta of 1.20. The company has a quick ratio of 0.33, a current ratio of 0.44 and a debt-to-equity ratio of 6.08.

Crossamerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Crossamerica Partners had a net margin of 0.84% and a return on equity of 16.98%. The company had revenue of $605.53 million during the quarter, compared to analyst estimates of $626.59 million. On average, equities research analysts expect that Crossamerica Partners will post 0.64 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in shares of Crossamerica Partners by 2.3% in the second quarter. Van ECK Associates Corp now owns 70,239 shares of the oil and gas company’s stock valued at $1,127,000 after purchasing an additional 1,562 shares during the last quarter. Quadrant Private Wealth Management LLC increased its holdings in shares of Crossamerica Partners by 2.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 80,800 shares of the oil and gas company’s stock valued at $1,297,000 after purchasing an additional 2,128 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Crossamerica Partners in the second quarter valued at approximately $185,000. Capital Wealth Planning LLC acquired a new stake in shares of Crossamerica Partners in the second quarter valued at approximately $242,000. Finally, Arrow Investment Advisors LLC acquired a new stake in shares of Crossamerica Partners in the second quarter valued at approximately $352,000. 30.55% 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, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company 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.

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