StockNews.com Lowers CrossAmerica Partners (NYSE:CAPL) to Hold

CrossAmerica Partners (NYSE:CAPLGet Rating) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

CrossAmerica Partners Trading Down 2.2 %

CrossAmerica Partners stock opened at $20.53 on Thursday. The company has a debt-to-equity ratio of 17.10, a quick ratio of 0.44 and a current ratio of 0.76. The business’s 50-day simple moving average is $20.89 and its 200-day simple moving average is $20.92. The firm has a market capitalization of $778.68 million, a PE ratio of 19.93 and a beta of 1.79. CrossAmerica Partners has a 52 week low of $18.84 and a 52 week high of $23.29.

CrossAmerica Partners (NYSE:CAPLGet Rating) last released its earnings results on Monday, August 8th. The oil and gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.02. CrossAmerica Partners had a return on equity of 73.25% and a net margin of 0.85%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $662.29 million. Equities research analysts forecast that CrossAmerica Partners will post 1.03 earnings per share for the current year.

Institutional Investors Weigh In On CrossAmerica Partners

A number of institutional investors have recently added to or reduced their stakes in CAPL. American Financial Group Inc. raised its stake in shares of CrossAmerica Partners by 4.5% in the second quarter. American Financial Group Inc. now owns 11,500 shares of the oil and gas company’s stock valued at $233,000 after acquiring an additional 500 shares during the last quarter. Quadrant Private Wealth Management LLC raised its stake in shares of CrossAmerica Partners by 0.4% in the first quarter. Quadrant Private Wealth Management LLC now owns 153,532 shares of the oil and gas company’s stock valued at $3,349,000 after acquiring an additional 659 shares during the last quarter. Philadelphia Trust Co. raised its stake in shares of CrossAmerica Partners by 10.0% in the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the oil and gas company’s stock valued at $240,000 after acquiring an additional 1,000 shares during the last quarter. Vident Investment Advisory LLC raised its stake in shares of CrossAmerica Partners by 7.6% in the first quarter. Vident Investment Advisory LLC now owns 15,611 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 1,098 shares during the last quarter. Finally, Tortoise Index Solutions LLC raised its stake in shares of CrossAmerica Partners by 7.6% in the second quarter. Tortoise Index Solutions LLC now owns 16,797 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 1,186 shares during the last quarter. 23.49% of the stock is owned by institutional investors and hedge funds.

CrossAmerica Partners Company Profile

(Get Rating)

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.

Further Reading

Receive News & Ratings for CrossAmerica Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CrossAmerica Partners and related companies with MarketBeat.com's FREE daily email newsletter.