CrossAmerica Partners LP (CAPL) Given a $35.00 Price Target by FBR & Co Analysts
Several other brokerages have also commented on CAPL. Robert W. Baird lowered their price objective on shares of CrossAmerica Partners from $36.00 to $30.00 and set an outperform rating on the stock in a research report on Tuesday, August 23rd. Zacks Investment Research lowered shares of CrossAmerica Partners from a hold rating to a sell rating in a research report on Thursday, October 20th. Royal Bank Of Canada initiated coverage on shares of CrossAmerica Partners in a research report on Thursday, October 27th. They issued a sector perform rating and a $28.00 price target on the stock. RBC Capital Markets initiated coverage on shares of CrossAmerica Partners in a research report on Thursday, October 27th. They issued a sector perform rating and a $28.00 price target on the stock. Finally, Bank of America Corp. initiated coverage on shares of CrossAmerica Partners in a research report on Wednesday, September 7th. They issued a buy rating and a $27.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. CrossAmerica Partners has a consensus rating of Buy and a consensus target price of $28.11.
Shares of CrossAmerica Partners (NYSE:CAPL) opened at 26.01 on Tuesday. The firm has a 50-day moving average of $25.97 and a 200-day moving average of $24.91. CrossAmerica Partners has a 12 month low of $17.39 and a 12 month high of $27.91. The firm has a market cap of $871.67 million, a price-to-earnings ratio of 90.94 and a beta of 1.37.
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The company also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, November 4th were issued a dividend of $0.6075 per share. This represents a $2.43 dividend on an annualized basis and a yield of 9.34%. The ex-dividend date of this dividend was Wednesday, November 2nd. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s dividend payout ratio is 867.86%.
In related news, Director Joseph V. Jr. Topper purchased 15,000 shares of the business’s stock in a transaction on Thursday, September 1st. The stock was acquired at an average price of $25.92 per share, with a total value of $388,800.00. Following the purchase, the director now directly owns 159,334 shares in the company, valued at $4,129,937.28. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Institutional investors have recently added to or reduced their stakes in the company. Welch Capital Partners LLC NY bought a new position in CrossAmerica Partners during the third quarter worth approximately $3,103,000. Global X Management Co. LLC boosted its stake in shares of CrossAmerica Partners by 13.3% in the third quarter. Global X Management Co. LLC now owns 321,914 shares of the company’s stock worth $8,173,000 after buying an additional 37,822 shares during the period. Contrarian Capital Management L.L.C. acquired a new stake in shares of CrossAmerica Partners during the second quarter worth about $864,000. Mountain Lake Investment Management LLC boosted its stake in shares of CrossAmerica Partners by 4.6% in the third quarter. Mountain Lake Investment Management LLC now owns 591,100 shares of the company’s stock worth $15,008,000 after buying an additional 26,100 shares during the period. Finally, Harvest Fund Advisors LLC boosted its stake in shares of CrossAmerica Partners by 0.8% in the second quarter. Harvest Fund Advisors LLC now owns 3,063,669 shares of the company’s stock worth $75,121,000 after buying an additional 24,163 shares during the period. 35.34% of the stock is owned by institutional investors and hedge funds.
CrossAmerica Partners Company Profile
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 Company’s sites are located in Pennsylvania, New Jersey, Ohio, New York, Massachusetts, Kentucky, New Hampshire, Maine, Florida, Maryland, Delaware, Tennessee, Virginia, Illinois, Indiana and West Virginia.
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