Crossamerica Partners (NYSE:CAPL) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Crossamerica Partners (NYSE:CAPL) from a sell rating to a hold rating in a research note released 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, Wells Fargo & Co raised their price target on Crossamerica Partners from $12.00 to $14.00 and gave the stock an equal weight rating in a research note on Tuesday, May 12th.

CAPL opened at $12.49 on Tuesday. Crossamerica Partners has a one year low of $6.81 and a one year high of $19.79. The company has a market cap of $473.00 million, a P/E ratio of 5.00 and a beta of 2.25. The company has a debt-to-equity ratio of 4.80, a quick ratio of 0.60 and a current ratio of 0.65. The business’s 50-day simple moving average is $14.90 and its 200-day simple moving average is $15.03.

Crossamerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported $2.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $1.88. The firm had revenue of $391.70 million for the quarter, compared to the consensus estimate of $653.10 million. Crossamerica Partners had a return on equity of 18.35% and a net margin of 4.33%. As a group, analysts predict that Crossamerica Partners will post 0.06 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the business. Barclays PLC acquired a new stake in Crossamerica Partners during the 4th quarter worth approximately $29,000. Clearbridge Investments LLC lifted its position in Crossamerica Partners by 44.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,202,541 shares of the oil and gas company’s stock worth $9,692,000 after acquiring an additional 370,541 shares during the period. Bank of America Corp DE lifted its position in Crossamerica Partners by 5,433.0% during the 4th quarter. Bank of America Corp DE now owns 168,757 shares of the oil and gas company’s stock worth $3,045,000 after acquiring an additional 165,707 shares during the period. Quadrant Private Wealth Management LLC lifted its position in Crossamerica Partners by 17.4% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 147,978 shares of the oil and gas company’s stock worth $1,193,000 after acquiring an additional 21,950 shares during the period. Finally, Capital Wealth Planning LLC acquired a new stake in Crossamerica Partners during the 1st quarter worth approximately $205,000. 28.44% of the stock is owned by 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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