StockNews.com Upgrades CrossAmerica Partners (NYSE:CAPL) to Strong-Buy

CrossAmerica Partners (NYSE:CAPL) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Monday.

CrossAmerica Partners Price Performance

Shares of NYSE:CAPL opened at $23.68 on Monday. The business’s 50-day moving average is $22.95 and its 200 day moving average is $21.80. CrossAmerica Partners has a 1 year low of $18.43 and a 1 year high of $23.97. The firm has a market capitalization of $901.26 million, a P/E ratio of 45.54 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.04 by $0.38. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The firm had revenue of $944.22 million during the quarter, compared to analyst estimates of $1.21 billion. On average, analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

Institutional Trading of CrossAmerica Partners

Large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $12,494,000 after purchasing an additional 28,758 shares during the period. Stifel Financial Corp lifted its stake in 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 valued at $978,000 after acquiring an additional 2,423 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of CrossAmerica Partners in the fourth quarter worth $6,245,000. CIBC Private Wealth Group LLC increased its stake in shares of CrossAmerica Partners by 4.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 25,500 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 1,000 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of CrossAmerica Partners by 6.2% during the fourth quarter. LPL Financial LLC now owns 107,405 shares of the oil and gas company’s stock worth $2,363,000 after purchasing an additional 6,306 shares during the last quarter. Hedge funds and other institutional investors own 24.06% of the company’s stock.

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.