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

Key Points

• CrossAmerica Partners has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, indicating a positive shift in market sentiment.
• The company reported $0.07 earnings per share for the last quarter, missing expectations, but exceeded revenue forecasts with $961.93 million in sales.
• Recent insider trading activity shows directors John B. Reilly III and Joseph V. Jr. Topper each acquired shares, signaling confidence in the company's future.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report released on Monday.

CrossAmerica Partners Stock Performance

Shares of NYSE:CAPL traded up $0.05 during trading on Monday, reaching $21.01. 26,243 shares of the stock traded hands, compared to its average volume of 38,329. The stock has a 50-day moving average of $20.91 and a two-hundred day moving average of $22.20. CrossAmerica Partners has a 52-week low of $19.05 and a 52-week high of $25.73. The stock has a market cap of $800.71 million, a P/E ratio of 18.59 and a beta of 0.55.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The oil and gas company reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.13). The company had revenue of $961.93 million for the quarter, compared to the consensus estimate of $793.52 million. CrossAmerica Partners had a net margin of 1.19% and a negative return on equity of 32.78%. Sell-side analysts expect that CrossAmerica Partners will post 0.42 earnings per share for the current year.

Insider Buying and Selling at CrossAmerica Partners

In related news, Director John B. Reilly III bought 2,706 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $20.01 per share, with a total value of $54,147.06. Following the completion of the purchase, the director owned 4,967,317 shares of the company's stock, valued at approximately $99,396,013.17. The trade was a 0.05% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Joseph V. Jr. Topper bought 2,706 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were bought at an average cost of $20.01 per share, with a total value of $54,147.06. Following the completion of the purchase, the director directly owned 1,857,649 shares of the company's stock, valued at $37,171,556.49. This represents a 0.15% increase in their position. The disclosure for this purchase can be found here. 52.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On CrossAmerica Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of CrossAmerica Partners by 50.5% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,596 shares of the oil and gas company's stock worth $752,000 after buying an additional 10,269 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth $205,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of CrossAmerica Partners by 5.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company's stock worth $12,494,000 after buying an additional 28,758 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in shares of CrossAmerica Partners in the 1st quarter worth $388,000. Finally, Stifel Financial Corp boosted its stake in shares of CrossAmerica Partners by 5.8% during the 4th quarter. Stifel Financial Corp now owns 44,469 shares of the oil and gas company's stock worth $978,000 after purchasing an additional 2,423 shares during the period. 24.06% of the stock is owned by hedge funds and other 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.