CrossAmerica Partners LP (CAPL) Given a $35.00 Price Target by FBR & Co Analysts
CrossAmerica Partners LP (NYSE:CAPL) has been assigned a $35.00 price target by investment analysts at FBR & Co in a research note issued on Tuesday. The firm presently has a “buy” rating on the stock. FBR & Co’s price objective suggests a potential upside of 34.62% from the company’s previous close.
Several other research firms also recently weighed in on CAPL. Zacks Investment Research downgraded shares of CrossAmerica Partners from a “hold” rating to a “sell” rating in a report on Thursday, October 20th. Royal Bank Of Canada initiated coverage on shares of CrossAmerica Partners in a report on Thursday, October 27th. They set a “sector perform” rating and a $28.00 price objective on the stock. RBC Capital Markets initiated coverage on shares of CrossAmerica Partners in a research note on Thursday, October 27th. They issued a “sector perform” rating and a $28.00 target price for the company. Robert W. Baird reduced their target price on shares of CrossAmerica Partners from $36.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, August 23rd. Finally, Bank of America Corp. initiated coverage on shares of CrossAmerica Partners in a research note on Wednesday, September 7th. They issued a “buy” rating and a $27.00 target price for the company. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.11.
CrossAmerica Partners (NYSE:CAPL) opened at 26.00 on Tuesday. CrossAmerica Partners has a one year low of $17.39 and a one year high of $27.91. The firm has a market capitalization of $871.34 million, a price-to-earnings ratio of 90.91 and a beta of 1.37. The company has a 50-day moving average of $25.98 and a 200 day moving average of $24.92.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Friday, November 4th were given a dividend of $0.6075 per share. The ex-dividend date was Wednesday, November 2nd. This represents a $2.43 annualized dividend and a yield of 9.35%. This is a positive change from CrossAmerica Partners’s previous quarterly dividend of $0.51. CrossAmerica Partners’s dividend payout ratio is presently 867.86%.
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A number of institutional investors have recently bought and sold shares of the stock. Welch Capital Partners LLC NY bought a new position in CrossAmerica Partners during the third quarter valued at $3,103,000. Global X Management Co. LLC raised its position 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 in the last quarter. Contrarian Capital Management L.L.C. acquired a new position in shares of CrossAmerica Partners during the second quarter worth $864,000. Mountain Lake Investment Management LLC raised its position 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 in the last quarter. Finally, Harvest Fund Advisors LLC raised its position 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 in the last quarter. Institutional investors own 35.34% of the company’s stock.
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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