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

Key Points

• Zacks Research downgraded CrossAmerica Partners from “strong buy” to “hold,” while Weiss Ratings reaffirmed its “hold (c)” rating. The stock now has an average analyst rating of “Hold.”
• CAPL shares opened at $21.56, near the middle of their $19.67–$24.63 52-week range, with a market capitalization of approximately $823 million.
• CrossAmerica Partners exceeded quarterly expectations, reporting $0.50 in earnings per share versus the $0.38 consensus estimate and $1.18 billion in revenue versus expectations of $731.45 million.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Monday, Zacks reports.

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of CrossAmerica Partners in a report on Tuesday, September 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

CrossAmerica Partners Stock Down 0.5%

Shares of NYSE:CAPL opened at $21.56 on Monday. CrossAmerica Partners has a 52-week low of $19.67 and a 52-week high of $24.63. The stock has a market cap of $823.10 million, a price-to-earnings ratio of 15.74 and a beta of 0.34. The business has a 50-day moving average price of $22.51 and a 200-day moving average price of $22.09.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its earnings results on Wednesday, August 5th. The oil and gas company reported $0.50 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $731.45 million. As a group, equities analysts anticipate that CrossAmerica Partners will post 1.18 EPS for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

Large investors have recently made changes to their positions in the company. Sei Investments Co. acquired a new stake in CrossAmerica Partners in the first quarter valued at approximately $278,000. First Trust Advisors LP lifted its position in shares of CrossAmerica Partners by 5.9% during the 1st quarter. First Trust Advisors LP now owns 190,006 shares of the oil and gas company's stock valued at $3,948,000 after buying an additional 10,640 shares in the last quarter. Gateway Wealth Partners LLC acquired a new stake in CrossAmerica Partners in the 1st quarter valued at $214,000. Outlook Wealth Advisors LLC increased its holdings in CrossAmerica Partners by 80.9% in the 1st quarter. Outlook Wealth Advisors LLC now owns 22,250 shares of the oil and gas company's stock worth $462,000 after acquiring an additional 9,950 shares in the last quarter. Finally, Motiv8 Investments LLC acquired a new position in CrossAmerica Partners during the fourth quarter worth $193,000. 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.

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