CrossAmerica Partners LP (NYSE:CAPL) has been given an average rating of “Buy” by the ten ratings firms that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $28.16.
CAPL has been the subject of several analyst reports. Zacks Investment Research upgraded CrossAmerica Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Robert W. Baird dropped their target price on CrossAmerica Partners from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 23rd. Janney Montgomery Scott reiterated a “buy” rating and issued a $27.00 target price on shares of CrossAmerica Partners in a research note on Thursday, June 23rd. FBR & Co initiated coverage on CrossAmerica Partners in a research note on Friday, September 9th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Bank of America Corp. initiated coverage on CrossAmerica Partners in a research note on Wednesday, September 7th. They issued a “buy” rating and a $27.00 target price for the company.
In other CrossAmerica Partners news, Director Joseph V. Jr. Topper purchased 25,000 shares of CrossAmerica Partners stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $25.97 per share, with a total value of $649,250.00. Following the completion of the acquisition, the director now owns 159,334 shares of the company’s stock, valued at approximately $4,137,903.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph V. Jr. Topper purchased 15,000 shares of CrossAmerica Partners stock in a transaction that occurred on Thursday, September 1st. The stock was acquired at an average cost of $25.92 per share, with a total value of $388,800.00. Following the acquisition, the director now directly owns 159,334 shares of the company’s stock, valued at approximately $4,129,937.28. The disclosure for this purchase can be found here.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of CrossAmerica Partners by 2.7% in the second quarter. Van ECK Associates Corp now owns 159,927 shares of the company’s stock worth $3,921,000 after buying an additional 4,204 shares in the last quarter. Contrarian Capital Management L.L.C. purchased a new position in CrossAmerica Partners during the second quarter worth approximately $864,000. Raymond James & Associates increased its position in CrossAmerica Partners by 9.9% in the second quarter. Raymond James & Associates now owns 95,440 shares of the company’s stock worth $2,340,000 after buying an additional 8,598 shares in the last quarter. Mycio Wealth Partners LLC purchased a new position in CrossAmerica Partners during the second quarter worth approximately $229,000. Finally, US Bancorp DE increased its position in CrossAmerica Partners by 29.8% in the second quarter. US Bancorp DE now owns 7,023 shares of the company’s stock worth $172,000 after buying an additional 1,613 shares in the last quarter. 35.86% of the stock is owned by hedge funds and other institutional investors.
Shares of CrossAmerica Partners (NYSE:CAPL) traded up 0.93% during trading on Thursday, reaching $25.93. The company had a trading volume of 17,237 shares. The firm has a 50-day moving average of $25.81 and a 200 day moving average of $24.32. CrossAmerica Partners has a 52 week low of $17.39 and a 52 week high of $27.69. The firm has a market capitalization of $866.11 million, a price-to-earnings ratio of 50.25 and a beta of 1.39.
CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.05. CrossAmerica Partners had a net margin of 0.94% and a return on equity of 7.16%. The company earned $512.60 million during the quarter, compared to analysts’ expectations of $650.10 million. On average, equities research analysts forecast that CrossAmerica Partners will post $0.33 earnings per share for the current year.
CrossAmerica Partners Company Profile
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 Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia.
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