CrossAmerica Partners LP (CAPL) Expected to Announce Quarterly Sales of $578.05 Million
Analysts expect CrossAmerica Partners LP (NYSE:CAPL) to announce $578.05 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for CrossAmerica Partners’ earnings. The lowest sales estimate is $532.46 million and the highest is $696.10 million. CrossAmerica Partners posted sales of $487.95 million in the same quarter last year, which would indicate a positive year over year growth rate of 18.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that CrossAmerica Partners will report full-year sales of $578.05 million for the current financial year, with estimates ranging from $2.00 billion to $2.37 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.48 billion per share, with estimates ranging from $2.07 billion to $3.02 billion. Zacks’ sales averages are an average based on a survey of research firms that cover CrossAmerica Partners.
CrossAmerica Partners (NYSE:CAPL) last announced its quarterly earnings results on Monday, August 7th. The oil and gas company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The firm had revenue of $528.79 million during the quarter, compared to analyst estimates of $596.92 million. CrossAmerica Partners had a net margin of 0.06% and a return on equity of 4.11%.
CAPL has been the subject of several recent research reports. BidaskClub downgraded shares of CrossAmerica Partners from a “hold” rating to a “sell” rating in a research report on Saturday, October 7th. Zacks Investment Research raised shares of CrossAmerica Partners from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research report on Tuesday, July 11th. Bank of America Corporation downgraded shares of CrossAmerica Partners from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $28.00 to $30.00 in a research report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. boosted their target price on shares of CrossAmerica Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. CrossAmerica Partners presently has a consensus rating of “Hold” and a consensus price target of $30.00.
Shares of CrossAmerica Partners (NYSE CAPL) traded down 0.53% during mid-day trading on Friday, reaching $26.11. 41,651 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $26.92 and its 200 day moving average price is $26.03. CrossAmerica Partners has a 52-week low of $23.26 and a 52-week high of $29.80. The company’s market cap is $884.11 million.
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In other news, Director Joseph V. Jr. Topper purchased 39,057 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $27.52 per share, for a total transaction of $1,074,848.64. Following the completion of the acquisition, the director now owns 163,544 shares in the company, valued at $4,500,730.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John B. Reilly III purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were purchased at an average price of $26.00 per share, for a total transaction of $1,300,000.00. Following the completion of the acquisition, the director now owns 190,869 shares of the company’s stock, valued at approximately $4,962,594. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 122,235 shares of company stock worth $3,257,064.
A number of institutional investors have recently added to or reduced their stakes in CAPL. Northwestern Mutual Investment Management Company LLC purchased a new position in CrossAmerica Partners during the second quarter worth about $3,365,000. Welch Capital Partners LLC NY boosted its holdings in CrossAmerica Partners by 67.5% during the second quarter. Welch Capital Partners LLC NY now owns 99,871 shares of the oil and gas company’s stock worth $2,547,000 after purchasing an additional 40,246 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in CrossAmerica Partners by 12.9% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 308,286 shares of the oil and gas company’s stock worth $7,861,000 after purchasing an additional 35,106 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in CrossAmerica Partners by 2.9% during the second quarter. Goldman Sachs Group Inc. now owns 1,089,908 shares of the oil and gas company’s stock worth $27,793,000 after purchasing an additional 30,751 shares during the last quarter. Finally, Arrow Investment Advisors LLC purchased a new position in CrossAmerica Partners during the second quarter worth about $705,000. Institutional investors and hedge funds own 35.05% 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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