CrossAmerica Partners (NYSE:CAPL) Upgraded by StockNews.com to "Strong-Buy" Rating

CrossAmerica Partners (NYSE:CAPL - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a report released on Friday.

CrossAmerica Partners Stock Down 2.0%

Shares of NYSE:CAPL opened at $22.35 on Friday. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $25.73. The stock has a market capitalization of $851.49 million, a PE ratio of 42.98 and a beta of 0.68. The firm's 50 day moving average price is $23.20 and its 200-day moving average price is $22.37.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The oil and gas company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.14). CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The firm had revenue of $862.48 million for the quarter, compared to the consensus estimate of $735.09 million. Analysts expect that CrossAmerica Partners will post 0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CrossAmerica Partners

Large investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in CrossAmerica Partners in the 4th quarter worth approximately $6,245,000. NewEdge Wealth LLC lifted its position in shares of CrossAmerica Partners by 112.7% during the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company's stock valued at $1,567,000 after buying an additional 37,736 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of CrossAmerica Partners by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company's stock valued at $12,494,000 after acquiring an additional 28,758 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of CrossAmerica Partners in the first quarter valued at approximately $535,000. Finally, Kestra Private Wealth Services LLC purchased a new position in shares of CrossAmerica Partners in the first quarter valued at approximately $388,000. 24.06% of the stock is currently owned by institutional investors.

About CrossAmerica Partners

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.