Crossamerica Partners (CAPL) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Crossamerica Partners (NYSE:CAPL) from a strong-buy rating to a hold rating in a report published on Tuesday, 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 upgraded Crossamerica Partners from a sell rating to a hold rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $20.25.

CAPL opened at $17.26 on Tuesday. The firm has a market capitalization of $625.85 million, a P/E ratio of 156.91, a PEG ratio of 6.31 and a beta of 1.46. Crossamerica Partners has a 1 year low of $13.00 and a 1 year high of $22.14. The company has a quick ratio of 0.42, a current ratio of 0.58 and a debt-to-equity ratio of 4.68.

Crossamerica Partners (NYSE:CAPL) last released its quarterly earnings results on Monday, February 25th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The business had revenue of $547.24 million during the quarter, compared to the consensus estimate of $663.00 million. Crossamerica Partners had a return on equity of 9.08% and a net margin of 0.16%. On average, research analysts expect that Crossamerica Partners will post 0.72 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Monday, May 6th will be issued a $0.525 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.10 annualized dividend and a yield of 12.17%. Crossamerica Partners’s dividend payout ratio is presently 1,909.09%.

In related news, Director Joseph V. Jr. Topper acquired 22,000 shares of the company’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $17.70 per share, with a total value of $389,400.00. Following the acquisition, the director now directly owns 195,295 shares of the company’s stock, valued at $3,456,721.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph V. Jr. Topper acquired 23,100 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was bought at an average cost of $17.28 per share, with a total value of $399,168.00. Following the completion of the acquisition, the director now directly owns 195,295 shares in the company, valued at $3,374,697.60. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strategic Wealth Advisors Group LLC raised its holdings in Crossamerica Partners by 258.7% in the 1st quarter. Strategic Wealth Advisors Group LLC now owns 50,215 shares of the oil and gas company’s stock valued at $923,000 after acquiring an additional 36,215 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in Crossamerica Partners by 4.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 47,118 shares of the oil and gas company’s stock valued at $860,000 after acquiring an additional 1,878 shares in the last quarter. OLD Second National Bank of Aurora acquired a new position in Crossamerica Partners in the 1st quarter valued at $25,000. Creative Planning raised its holdings in Crossamerica Partners by 4.3% in the 1st quarter. Creative Planning now owns 14,360 shares of the oil and gas company’s stock valued at $262,000 after acquiring an additional 590 shares in the last quarter. Finally, Tortoise Index Solutions LLC raised its holdings in Crossamerica Partners by 100.7% in the 4th quarter. Tortoise Index Solutions LLC now owns 10,294 shares of the oil and gas company’s stock valued at $146,000 after acquiring an additional 5,164 shares in the last quarter. 34.20% of the stock is owned by hedge funds and other institutional investors.

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, operators of retail motor fuel stations, Circle K Stores Inc, and company operated retail sites.

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