Crossamerica Partners (NYSE:CAPL) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Crossamerica Partners (NYSE:CAPL) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. They currently have $19.00 target price on the oil and gas company’s stock.

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 also recently weighed in on CAPL. Raymond James set a $19.00 target price on Crossamerica Partners and gave the stock a buy rating in a report on Wednesday, May 8th. ValuEngine downgraded Crossamerica Partners from a hold rating to a sell rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $20.00.

Shares of CAPL traded down $0.06 during midday trading on Thursday, reaching $16.82. 33,000 shares of the stock were exchanged, compared to its average volume of 90,018. Crossamerica Partners has a twelve month low of $13.00 and a twelve month high of $19.20. The company has a current ratio of 0.52, a quick ratio of 0.39 and a debt-to-equity ratio of 5.29. The stock has a market capitalization of $577.90 million, a P/E ratio of 152.91, a P/E/G ratio of 7.08 and a beta of 1.38. The firm has a 50 day moving average of $16.53.

Crossamerica Partners (NYSE:CAPL) last posted its earnings results on Monday, August 5th. The oil and gas company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Crossamerica Partners had a return on equity of 16.51% and a net margin of 0.84%. The firm had revenue of $605.53 million for the quarter, compared to analyst estimates of $626.59 million. Research analysts expect that Crossamerica Partners will post 0.71 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Tuesday, July 30th were paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 12.49%. The ex-dividend date was Monday, July 29th. Crossamerica Partners’s dividend payout ratio (DPR) is presently 1,909.09%.

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its holdings in shares of Crossamerica Partners by 2.3% during the second quarter. Van ECK Associates Corp now owns 70,239 shares of the oil and gas company’s stock worth $1,127,000 after buying an additional 1,562 shares in the last quarter. Arrow Investment Advisors LLC acquired a new stake in shares of Crossamerica Partners during the second quarter worth $352,000. Capital Wealth Planning LLC acquired a new stake in shares of Crossamerica Partners during the second quarter worth $242,000. Marshall Wace LLP acquired a new stake in shares of Crossamerica Partners during the first quarter worth $815,000. Finally, Vivaldi Asset Management LLC raised its stake in Crossamerica Partners by 24.3% in the first quarter. Vivaldi Asset Management LLC now owns 126,166 shares of the oil and gas company’s stock valued at $2,304,000 after purchasing an additional 24,692 shares in the last quarter. 31.99% of the stock is owned by institutional investors and hedge funds.

About Crossamerica Partners

CrossAmerica Partners LP engages in the wholesale distribution of motor fuels, and ownership and leasing of real estate used in the retail distribution of motor fuels in the United States. The company 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.

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