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 released on Wednesday morning, 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 lowered shares of Crossamerica Partners from a sell rating to a strong sell rating in a research note on Monday, November 4th.

Crossamerica Partners stock traded up $0.06 during midday trading on Wednesday, reaching $17.77. The stock had a trading volume of 27,957 shares, compared to its average volume of 35,380. The firm’s fifty day simple moving average is $17.63 and its two-hundred day simple moving average is $16.82. Crossamerica Partners has a twelve month low of $13.00 and a twelve month high of $19.07. The company has a debt-to-equity ratio of 6.78, a current ratio of 0.43 and a quick ratio of 0.33. The firm has a market cap of $607.87 million, a price-to-earnings ratio of 161.55, a PEG ratio of 7.74 and a beta of 1.21.

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

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

Several large investors have recently modified their holdings of the business. Lenox Wealth Advisors LLC acquired a new stake in shares of Crossamerica Partners during the 3rd quarter valued at $25,000. Van ECK Associates Corp boosted its stake in shares of Crossamerica Partners by 2.3% during the 2nd quarter. Van ECK Associates Corp now owns 70,239 shares of the oil and gas company’s stock valued at $1,127,000 after buying an additional 1,562 shares during the period. Quadrant Private Wealth Management LLC boosted its stake in shares of Crossamerica Partners by 2.7% during the 2nd quarter. Quadrant Private Wealth Management LLC now owns 80,800 shares of the oil and gas company’s stock valued at $1,297,000 after buying an additional 2,128 shares during the period. Arrow Investment Advisors LLC boosted its stake in shares of Crossamerica Partners by 21.3% during the 3rd quarter. Arrow Investment Advisors LLC now owns 26,585 shares of the oil and gas company’s stock valued at $454,000 after buying an additional 4,661 shares during the period. Finally, California Public Employees Retirement System acquired a new stake in shares of Crossamerica Partners during the 3rd quarter valued at $173,000. 30.64% of the stock is owned by institutional investors.

Crossamerica Partners Company Profile

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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