CrossAmerica Partners (NYSE:CAPL) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded CrossAmerica Partners (NYSE: CAPL) from “buy” to “strong-buy,” adding to a mixed analyst picture that still leaves the stock with a consensus rating of Hold.
• The company beat Q1 earnings expectations, reporting EPS of $0.26 versus a consensus estimate of a $0.16 loss, while revenue came in at $841.83 million, well above forecasts.
• CrossAmerica Partners shares opened at $21.71, near their 52-week range of $19.61 to $23.62, with a market cap of $827.8 million and a low beta of 0.29.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Saturday.

Several other research firms have also recently commented on CAPL. Zacks Research cut shares of CrossAmerica Partners from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 28th. Weiss Ratings raised shares of CrossAmerica Partners from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

CrossAmerica Partners Stock Performance

Shares of NYSE:CAPL opened at $21.71 on Friday. CrossAmerica Partners has a twelve month low of $19.61 and a twelve month high of $23.62. The firm has a market cap of $827.80 million, a PE ratio of 14.57 and a beta of 0.29. The business has a fifty day moving average of $21.24 and a 200-day moving average of $21.20.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its earnings results on Wednesday, May 6th. The oil and gas company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.42. CrossAmerica Partners had a negative return on equity of 22.21% and a net margin of 1.64%.The company had revenue of $841.83 million during the quarter, compared to analyst estimates of $697.31 million. On average, analysts anticipate that CrossAmerica Partners will post 0.43 EPS for the current fiscal year.

Institutional Trading of CrossAmerica Partners

Several hedge funds have recently modified their holdings of CAPL. First Trust Advisors LP lifted its holdings in CrossAmerica Partners by 22.9% in the third quarter. First Trust Advisors LP now owns 199,041 shares of the oil and gas company's stock valued at $4,186,000 after buying an additional 37,093 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in CrossAmerica Partners by 4.8% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 610,616 shares of the oil and gas company's stock valued at $12,774,000 after buying an additional 27,767 shares during the period. Acadian Asset Management LLC acquired a new position in CrossAmerica Partners in the first quarter valued at approximately $535,000. NewEdge Wealth LLC lifted its holdings in CrossAmerica Partners by 25.4% in the third quarter. NewEdge Wealth LLC now owns 92,749 shares of the oil and gas company's stock valued at $1,859,000 after buying an additional 18,798 shares during the period. Finally, Lee Financial Co acquired a new position in CrossAmerica Partners in the third quarter valued at approximately $379,000. 24.06% of the stock is owned by institutional investors.

CrossAmerica Partners Company Profile

CrossAmerica Partners LP NYSE: CAPL is a publicly traded master limited partnership engaged in the wholesale distribution of motor fuels across the United States. The company procures, transports and stores refined petroleum products including gasoline, diesel fuel, kerosene, heating oil and select renewable fuel blends. Through its integrated network of pipelines, terminals and truck fleets, CrossAmerica Partners supplies fuel to a broad base of customers, including convenience stores, supermarket chains, travel centers and independent marketers.

Formed in 2014 as a spin-off of Sunoco's wholesale fuel business, CrossAmerica Partners acquired refined petroleum distribution assets and entered into long-term supply agreements designed to deliver stable, fee-based revenues.

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