Zacks Research Downgrades CrossAmerica Partners (NYSE:CAPL) to Hold

CrossAmerica Partners (NYSE:CAPL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday, Zacks reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of CrossAmerica Partners in a research report on Tuesday, September 8th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, CrossAmerica Partners presently has a consensus rating of “Hold”.

CrossAmerica Partners Stock Down 0.5%

CAPL opened at $21.56 on Monday. The firm has a market capitalization of $823.16 million, a P/E ratio of 15.74 and a beta of 0.34. The stock has a fifty day moving average of $22.51 and a 200-day moving average of $22.09. CrossAmerica Partners has a 12-month low of $19.67 and a 12-month high of $24.63.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.38 by $0.12. CrossAmerica Partners had a negative return on equity of 37.73% and a net margin of 1.43%.The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $731.45 million. On average, analysts expect that CrossAmerica Partners will post 1.18 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently modified their holdings of CAPL. NewEdge Advisors LLC grew its stake in CrossAmerica Partners by 40.0% during the first quarter. NewEdge Advisors LLC now owns 2,100 shares of the oil and gas company’s stock worth $44,000 after buying an additional 600 shares in the last quarter. North Star Investment Management Corp. bought a new position in CrossAmerica Partners in the 1st quarter valued at approximately $105,000. Motiv8 Investments LLC bought a new position in CrossAmerica Partners in the 4th quarter valued at approximately $193,000. Gateway Wealth Partners LLC bought a new position in CrossAmerica Partners in the 1st quarter valued at approximately $214,000. Finally, Sei Investments Co. acquired a new stake in CrossAmerica Partners in the first quarter valued at approximately $278,000. 24.06% of the stock is currently owned by institutional investors and hedge funds.

About CrossAmerica Partners

CrossAmerica Partners LP (NYSE: CAPL) is a publicly traded master limited partnership that distributes motor fuels and owns, leases, and operates energy-related infrastructure. The company supplies branded and unbranded gasoline and diesel fuel to independent dealers, commercial customers, and other retail and wholesale markets.

Its assets and operations include fuel terminals, storage facilities, pipelines, transportation equipment, and retail sites such as convenience stores and gas stations.