CrossAmerica Partners (NYSE:CAPL) Stock Rating Upgraded by StockNews.com

CrossAmerica Partners (NYSE:CAPL) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Monday.

CrossAmerica Partners Price Performance

Shares of CAPL stock opened at $23.68 on Monday. The company’s 50-day simple moving average is $22.95 and its two-hundred day simple moving average is $21.80. CrossAmerica Partners has a one year low of $18.43 and a one year high of $23.97. The company has a market capitalization of $901.26 million, a P/E ratio of 45.54 and a beta of 1.48.

CrossAmerica Partners (NYSE:CAPL) last released its quarterly earnings data on Wednesday, February 26th. The oil and gas company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.04 by $0.38. CrossAmerica Partners had a negative return on equity of 104.40% and a net margin of 0.50%. The company had revenue of $944.22 million for the quarter, compared to the consensus estimate of $1.21 billion. On average, research analysts expect that CrossAmerica Partners will post 0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On CrossAmerica Partners

Several large investors have recently modified their holdings of CAPL. Raymond James Financial Inc. bought a new position in CrossAmerica Partners in the fourth quarter worth approximately $6,245,000. NewEdge Wealth LLC increased its holdings in shares of CrossAmerica Partners by 112.7% in the 4th quarter. NewEdge Wealth LLC now owns 71,232 shares of the oil and gas company’s stock valued at $1,567,000 after acquiring an additional 37,736 shares during the period. JPMorgan Chase & Co. raised its position in shares of CrossAmerica Partners by 8.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 361,231 shares of the oil and gas company’s stock worth $7,485,000 after acquiring an additional 28,991 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in CrossAmerica Partners by 5.3% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 567,901 shares of the oil and gas company’s stock valued at $12,494,000 after purchasing an additional 28,758 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in CrossAmerica Partners in the third quarter valued at about $279,000. Institutional investors own 24.06% of the company’s stock.

About CrossAmerica Partners

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.