Zacks Investment Research cut shares of CrossAmerica Partners (NYSE:CAPL) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

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 analysts have also recently commented on CAPL. ValuEngine upgraded shares of CrossAmerica Partners from a sell rating to a hold rating in a report on Tuesday. BidaskClub cut shares of CrossAmerica Partners from a sell rating to a strong sell rating in a report on Wednesday, October 25th. Royal Bank of Canada dropped their target price on shares of CrossAmerica Partners from $30.00 to $28.00 and set a sector perform rating on the stock in a report on Thursday, November 9th. Finally, B. Riley set a $30.00 target price on shares of CrossAmerica Partners and gave the company a buy rating in a report on Monday, December 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. CrossAmerica Partners currently has a consensus rating of Hold and an average target price of $29.00.

Shares of CrossAmerica Partners (NYSE:CAPL) traded up $0.02 during mid-day trading on Friday, hitting $24.16. 30,138 shares of the stock were exchanged, compared to its average volume of 53,319. CrossAmerica Partners has a 1 year low of $22.57 and a 1 year high of $29.80. The company has a market cap of $821.08, a PE ratio of 2,416.00, a PEG ratio of 10.61 and a beta of 1.29. The company has a current ratio of 0.70, a quick ratio of 0.57 and a debt-to-equity ratio of 2.69.

A number of institutional investors have recently made changes to their positions in CAPL. Ameriprise Financial Inc. boosted its stake in CrossAmerica Partners by 71.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 17,339 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 7,217 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in CrossAmerica Partners by 22.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 124,271 shares of the oil and gas company’s stock worth $3,169,000 after purchasing an additional 22,370 shares in the last quarter. Arrow Investment Advisors LLC bought a new position in CrossAmerica Partners in the 2nd quarter worth about $705,000. Goldman Sachs Group Inc. boosted its stake in CrossAmerica Partners by 2.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,089,908 shares of the oil and gas company’s stock worth $27,793,000 after purchasing an additional 30,751 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in CrossAmerica Partners by 17.1% in the 2nd quarter. Royal Bank of Canada now owns 21,216 shares of the oil and gas company’s stock worth $541,000 after purchasing an additional 3,098 shares in the last quarter. Institutional investors own 34.45% of the company’s stock.

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About CrossAmerica Partners

CrossAmerica Partners LP is a limited partnership engaged in the wholesale distribution of motor fuel, and the ownership and leasing of real estate used in the retail distribution of motor fuel. The Company operates in two segments: wholesale and retail. The wholesale segment is engaged in the wholesale distribution of motor fuel to lessee dealers, independent dealers, commission agents, Dunne Manning Stores LLC (DMS), CST Brands, Inc and subsidiaries (CST) and company operated retail sites.

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