CrossAmerica Partners LP (CAPL) Lifted to Buy at Zacks Investment Research
CrossAmerica Partners LP (NYSE:CAPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm currently has a $28.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.50% from the company’s previous close.
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. “
Other analysts have also issued reports about the company. Royal Bank Of Canada reiterated a “hold” rating and set a $27.00 price objective on shares of CrossAmerica Partners in a research note on Thursday, April 13th. FBR & Co reiterated a “buy” rating on shares of CrossAmerica Partners in a research note on Wednesday, March 15th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $29.40.
CrossAmerica Partners (NYSE:CAPL) traded up 1.03% during midday trading on Tuesday, reaching $25.57. The company had a trading volume of 40,721 shares. The firm has a market capitalization of $862.37 million, a price-to-earnings ratio of 122.34 and a beta of 1.33. The stock’s 50 day moving average is $24.62 and its 200 day moving average is $25.49. CrossAmerica Partners has a 12-month low of $23.01 and a 12-month high of $27.94.
CrossAmerica Partners (NYSE:CAPL) last issued its earnings results on Monday, May 8th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $469.29 million during the quarter, compared to the consensus estimate of $494.04 million. CrossAmerica Partners had a net margin of 0.44% and a return on equity of 3.91%. Equities research analysts expect that CrossAmerica Partners will post $0.30 earnings per share for the current year.
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Several hedge funds have recently added to or reduced their stakes in CAPL. Stephens Inc. AR raised its stake in CrossAmerica Partners by 8.2% in the first quarter. Stephens Inc. AR now owns 8,994 shares of the oil and gas company’s stock worth $235,000 after buying an additional 685 shares during the last quarter. Bank of Montreal Can bought a new stake in CrossAmerica Partners during the second quarter worth about $255,000. Ameriprise Financial Inc. bought a new stake in CrossAmerica Partners during the first quarter worth about $265,000. Wells Fargo & Company MN raised its stake in CrossAmerica Partners by 2.3% in the first quarter. Wells Fargo & Company MN now owns 18,635 shares of the oil and gas company’s stock worth $488,000 after buying an additional 412 shares during the last quarter. Finally, Credit Suisse AG raised its stake in CrossAmerica Partners by 6.8% in the first quarter. Credit Suisse AG now owns 23,954 shares of the oil and gas company’s stock worth $628,000 after buying an additional 1,523 shares during the last quarter. Institutional investors own 37.44% of the company’s stock.
About CrossAmerica Partners
CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.
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