Today, Brokerages gives Consensus Recommendation of “Buy” to CrossAmerica Partners LP (NYSE:CAPL)

Today, Brokerages gives Consensus Recommendation of “Buy” to CrossAmerica Partners LP (NYSE:CAPL)

CrossAmerica Partners LP (NYSE:CAPL) has been given an average rating of “Buy” by the ten ratings firms that are presently covering the company. Four investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $28.16.

CAPL has been the subject of several analyst reports. Zacks Investment Research upgraded CrossAmerica Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 16th. Robert W. Baird dropped their target price on CrossAmerica Partners from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 23rd. Janney Montgomery Scott reiterated a “buy” rating and issued a $27.00 target price on shares of CrossAmerica Partners in a research note on Thursday, June 23rd. FBR & Co initiated coverage on CrossAmerica Partners in a research note on Friday, September 9th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Bank of America Corp. initiated coverage on CrossAmerica Partners in a research note on Wednesday, September 7th. They issued a “buy” rating and a $27.00 target price for the company.

In other CrossAmerica Partners news, Director Joseph V. Jr. Topper purchased 25,000 shares of CrossAmerica Partners stock in a transaction that occurred on Friday, August 26th. The stock was purchased at an average price of $25.97 per share, with a total value of $649,250.00. Following the completion of the acquisition, the director now owns 159,334 shares of the company’s stock, valued at approximately $4,137,903.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph V. Jr. Topper purchased 15,000 shares of CrossAmerica Partners stock in a transaction that occurred on Thursday, September 1st. The stock was acquired at an average cost of $25.92 per share, with a total value of $388,800.00. Following the acquisition, the director now directly owns 159,334 shares of the company’s stock, valued at approximately $4,129,937.28. The disclosure for this purchase can be found here.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of CrossAmerica Partners by 2.7% in the second quarter. Van ECK Associates Corp now owns 159,927 shares of the company’s stock worth $3,921,000 after buying an additional 4,204 shares in the last quarter. Contrarian Capital Management L.L.C. purchased a new position in CrossAmerica Partners during the second quarter worth approximately $864,000. Raymond James & Associates increased its position in CrossAmerica Partners by 9.9% in the second quarter. Raymond James & Associates now owns 95,440 shares of the company’s stock worth $2,340,000 after buying an additional 8,598 shares in the last quarter. Mycio Wealth Partners LLC purchased a new position in CrossAmerica Partners during the second quarter worth approximately $229,000. Finally, US Bancorp DE increased its position in CrossAmerica Partners by 29.8% in the second quarter. US Bancorp DE now owns 7,023 shares of the company’s stock worth $172,000 after buying an additional 1,613 shares in the last quarter. 35.86% of the stock is owned by hedge funds and other institutional investors.

Shares of CrossAmerica Partners (NYSE:CAPL) traded up 0.93% during trading on Thursday, reaching $25.93. The company had a trading volume of 17,237 shares. The firm has a 50-day moving average of $25.81 and a 200 day moving average of $24.32. CrossAmerica Partners has a 52 week low of $17.39 and a 52 week high of $27.69. The firm has a market capitalization of $866.11 million, a price-to-earnings ratio of 50.25 and a beta of 1.39.

CrossAmerica Partners (NYSE:CAPL) last issued its quarterly earnings data on Friday, August 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.05. CrossAmerica Partners had a net margin of 0.94% and a return on equity of 7.16%. The company earned $512.60 million during the quarter, compared to analysts’ expectations of $650.10 million. On average, equities research analysts forecast that CrossAmerica Partners will post $0.33 earnings per share for the current year.

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