CrossAmerica Partners (NYSE:CAPL) Upgraded at StockNews.com

CrossAmerica Partners (NYSE:CAPL) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Friday.

CrossAmerica Partners Price Performance

NYSE CAPL traded down $0.02 on Friday, hitting $20.13. 14,632 shares of the company were exchanged, compared to its average volume of 36,568. CrossAmerica Partners has a twelve month low of $18.43 and a twelve month high of $24.19. The firm has a market capitalization of $765.76 million, a P/E ratio of 38.70 and a beta of 1.50. The company’s 50 day moving average price is $20.98 and its 200-day moving average price is $20.39.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings results on Wednesday, November 6th. The oil and gas company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.02. CrossAmerica Partners had a net margin of 0.50% and a negative return on equity of 104.40%. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. As a group, equities analysts expect that CrossAmerica Partners will post 0.42 EPS for the current year.

Institutional Trading of CrossAmerica Partners

A number of hedge funds have recently made changes to their positions in CAPL. BNP Paribas Financial Markets increased its stake in CrossAmerica Partners by 1.9% in the 1st quarter. BNP Paribas Financial Markets now owns 30,971 shares of the oil and gas company’s stock valued at $706,000 after buying an additional 565 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of CrossAmerica Partners by 10.0% in the first quarter. Janney Montgomery Scott LLC now owns 20,607 shares of the oil and gas company’s stock worth $470,000 after acquiring an additional 1,872 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of CrossAmerica Partners in the first quarter worth $31,000. B. Riley Wealth Advisors Inc. purchased a new stake in shares of CrossAmerica Partners during the first quarter worth $205,000. Finally, IFG Advisory LLC acquired a new position in CrossAmerica Partners in the 2nd quarter worth about $332,000. 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.