CrossAmerica Partners (NYSE:CAPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $27.00 target price on the oil and gas company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.11% 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. “
A number of other equities research analysts have also weighed in on CAPL. BidaskClub lowered shares of CrossAmerica Partners from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Royal Bank of Canada lowered their price objective on shares of CrossAmerica Partners from $30.00 to $28.00 and set a “sector perform” rating for the company in a report on Thursday, November 9th. B. Riley set a $30.00 price objective on shares of CrossAmerica Partners and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, ValuEngine upgraded shares of CrossAmerica Partners from a “sell” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.00.
Shares of CrossAmerica Partners (NYSE:CAPL) traded down $0.19 on Tuesday, hitting $24.30. 22,525 shares of the stock were exchanged, compared to its average volume of 37,283. The company has a market cap of $825.83, a price-to-earnings ratio of 2,430.00, a price-to-earnings-growth ratio of 10.45 and a beta of 1.29. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 2.69. CrossAmerica Partners has a 1 year low of $22.57 and a 1 year high of $29.80.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Kayne Anderson Capital Advisors LP purchased a new position in shares of CrossAmerica Partners in the third quarter worth $272,000. Ameriprise Financial Inc. increased its stake in shares of CrossAmerica Partners by 71.3% in the second quarter. Ameriprise Financial Inc. now owns 17,339 shares of the oil and gas company’s stock worth $442,000 after buying an additional 7,217 shares during the period. Cowen Inc. purchased a new position in shares of CrossAmerica Partners in the second quarter worth $510,000. Royal Bank of Canada increased its position in CrossAmerica Partners by 17.1% during the 2nd quarter. Royal Bank of Canada now owns 21,216 shares of the oil and gas company’s stock valued at $541,000 after purchasing an additional 3,098 shares during the period. Finally, BB&T Investment Services Inc. purchased a new position in CrossAmerica Partners during the 2nd quarter valued at $577,000. 34.45% of the stock is currently owned by institutional investors.
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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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