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

Key Points

• Zacks Research downgraded CrossAmerica Partners (NYSE:CAPL) from "strong-buy" to "hold", and the stock's average rating on MarketBeat is "Hold".
• Quarterly results beat estimates — CAPL reported $0.16 EPS vs $0.05 expected and revenue of $2.69B vs $748M expected, though net margin was only 1.14% and return on equity was negative (-9.43%).
• Market and investor context: shares trade around $21 with a market cap near $803M, a 52‑week range of $19.61–$24.53, and institutional investors owning roughly 24% of the stock with several recent position changes.

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

Other equities research analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of CrossAmerica Partners from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of CrossAmerica Partners from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

CrossAmerica Partners Trading Down 0.3%

Shares of CrossAmerica Partners stock opened at $21.06 on Tuesday. The company's fifty day simple moving average is $21.26 and its 200-day simple moving average is $21.17. The company has a market cap of $803.02 million, a price-to-earnings ratio of 20.45 and a beta of 0.35. CrossAmerica Partners has a 1 year low of $19.61 and a 1 year high of $24.53.

CrossAmerica Partners (NYSE:CAPL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.11. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $748.01 million. CrossAmerica Partners had a net margin of 1.14% and a negative return on equity of 9.43%. As a group, research analysts forecast that CrossAmerica Partners will post 0.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On CrossAmerica Partners

Several institutional investors and hedge funds have recently made changes to their positions in the company. North Star Investment Management Corp. acquired a new stake in shares of CrossAmerica Partners in the 1st quarter valued at $105,000. Outlook Wealth Advisors LLC boosted its stake in shares of 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 valued at $462,000 after purchasing an additional 9,950 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of CrossAmerica Partners by 48.7% in the 4th quarter. Royal Bank of Canada now owns 7,394 shares of the oil and gas company's stock valued at $153,000 after purchasing an additional 2,422 shares in the last quarter. Motiv8 Investments LLC acquired a new stake in shares of CrossAmerica Partners in the 4th quarter valued at $193,000. Finally, Wells Fargo & Company MN boosted its stake in shares of CrossAmerica Partners by 43.3% in the 4th quarter. Wells Fargo & Company MN now owns 6,190 shares of the oil and gas company's stock valued at $128,000 after purchasing an additional 1,869 shares in the last quarter. Institutional investors and hedge funds own 24.06% of the company's stock.

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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