Zacks Investment Research Downgrades Crossamerica Partners (CAPL) to Hold

Crossamerica Partners (NYSE:CAPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, consisting of gasoline and diesel fuel, and owns and leases real estate used in the retail distribution of motor fuels. CrossAmerica Partners LP, formerly known as Lehigh Gas Partners LP, is headquartered in Allentown, Pennsylvania. “

Several other research analysts have also commented on CAPL. Wells Fargo & Co lifted their price target on Crossamerica Partners from $19.00 to $21.00 and gave the stock a “market perform” rating in a report on Tuesday, August 14th. B. Riley set a $25.00 price objective on shares of Crossamerica Partners and gave the company a “buy” rating in a report on Wednesday, August 15th. Finally, ValuEngine upgraded shares of Crossamerica Partners from a “strong sell” rating to a “sell” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $24.17.

NYSE CAPL opened at $15.46 on Monday. Crossamerica Partners has a 52 week low of $15.31 and a 52 week high of $25.77. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.61 and a current ratio of 0.77. The firm has a market cap of $548.87 million, a PE ratio of -193.25 and a beta of 1.23.

Crossamerica Partners (NYSE:CAPL) last posted its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.09). Crossamerica Partners had a return on equity of 3.27% and a net margin of 0.66%. The company had revenue of $673.30 million for the quarter, compared to analysts’ expectations of $667.48 million.

In related news, Director John B. Reilly III acquired 10,695 shares of Crossamerica Partners stock in a transaction that occurred on Friday, August 10th. The shares were purchased at an average cost of $18.20 per share, for a total transaction of $194,649.00. Following the acquisition, the director now owns 199,916 shares in the company, valued at $3,638,471.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

A number of institutional investors and hedge funds have recently modified their holdings of CAPL. LPL Financial LLC purchased a new stake in Crossamerica Partners in the 1st quarter valued at about $206,000. Creative Planning purchased a new stake in Crossamerica Partners in the 2nd quarter valued at about $238,000. Bank of Montreal Can purchased a new stake in Crossamerica Partners in the 2nd quarter valued at about $338,000. Quadrant Private Wealth Management LLC raised its holdings in Crossamerica Partners by 9.4% in the 2nd quarter. Quadrant Private Wealth Management LLC now owns 69,474 shares of the oil and gas company’s stock valued at $1,173,000 after buying an additional 5,996 shares during the period. Finally, UBS Group AG increased its stake in Crossamerica Partners by 8.7% during the first quarter. UBS Group AG now owns 66,620 shares of the oil and gas company’s stock worth $1,370,000 after purchasing an additional 5,313 shares during the period. Hedge funds and other institutional investors own 32.69% of the company’s stock.

About Crossamerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company 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, operators of retail motor fuel stations, Circle K Stores Inc, and company operated retail sites.

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