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

StockNews.com cut shares of CrossAmerica Partners (NYSE:CAPL) from a strong-buy rating to a buy rating in a research note issued to investors on Sunday.

CrossAmerica Partners Stock Performance

CAPL stock opened at $21.06 on Friday. The company has a market capitalization of $800.66 million, a P/E ratio of 34.52 and a beta of 1.51. The firm has a 50 day simple moving average of $20.63 and a 200-day simple moving average of $20.63. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of CrossAmerica Partners in the 1st quarter valued at approximately $31,000. EverSource Wealth Advisors LLC boosted its holdings in CrossAmerica Partners by 376.6% in the second 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. B. Riley Wealth Advisors Inc. bought a new stake in CrossAmerica Partners during the first quarter valued at $205,000. American Financial Group Inc. raised its holdings in shares of CrossAmerica Partners by 3.7% during the first quarter. American Financial Group Inc. now owns 14,000 shares of the oil and gas company’s stock worth $319,000 after purchasing an additional 500 shares during the period. Finally, SpiderRock Advisors LLC bought a new position in shares of CrossAmerica Partners in the 1st quarter worth about $325,000. Institutional investors own 24.06% of the company’s stock.

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.