Crossamerica Partners (NYSE:CAPL) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Crossamerica Partners (NYSE:CAPL) from a buy rating to a hold rating in a report published on Wednesday, Zacks.com reports.

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. “

Separately, ValuEngine downgraded Crossamerica Partners from a sell rating to a strong sell rating in a report on Monday, November 4th.

Shares of CAPL stock opened at $17.77 on Wednesday. The stock has a fifty day moving average of $17.63 and a 200 day moving average of $16.82. Crossamerica Partners has a 52 week low of $13.00 and a 52 week high of $19.07. The firm has a market capitalization of $607.87 million, a price-to-earnings ratio of 161.55, a PEG ratio of 7.74 and a beta of 1.21. The company has a quick ratio of 0.33, a current ratio of 0.43 and a debt-to-equity ratio of 6.78.

Crossamerica Partners (NYSE:CAPL) last posted its quarterly earnings data on Thursday, November 7th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The firm had revenue of $559.74 million during the quarter, compared to the consensus estimate of $591.82 million. Crossamerica Partners had a return on equity of 19.71% and a net margin of 0.97%. Equities research analysts anticipate that Crossamerica Partners will post 0.67 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Shareholders of record on Tuesday, November 5th were issued a $0.525 dividend. The ex-dividend date was Monday, November 4th. This represents a $2.10 dividend on an annualized basis and a yield of 11.82%. Crossamerica Partners’s dividend payout ratio (DPR) is 1,909.09%.

A number of institutional investors and hedge funds have recently bought and sold shares of CAPL. Capital Wealth Planning LLC bought a new position in Crossamerica Partners in the second quarter worth $242,000. Arrow Investment Advisors LLC bought a new position in Crossamerica Partners in the second quarter worth $352,000. Van ECK Associates Corp raised its holdings in Crossamerica Partners by 2.3% in 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 purchasing an additional 1,562 shares in the last quarter. Quadrant Private Wealth Management LLC raised its holdings in Crossamerica Partners by 2.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 80,800 shares of the oil and gas company’s stock worth $1,297,000 after purchasing an additional 2,128 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new position in Crossamerica Partners in the second quarter worth $2,043,000. Institutional investors and hedge funds own 30.64% of the company’s stock.

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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