Raymond James Keeps Their Buy Rating on Crossamerica Partners (CAPL)
In a report released yesterday, Justin Jenkins from Raymond James maintained a Buy rating on Crossamerica Partners (CAPL), with a price target of $16.00. The company’s shares closed last Thursday at $14.51.
According to TipRanks.com, Jenkins is a 1-star analyst with an average return of -1.7% and a 51.7% success rate. Jenkins covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Holly Energy Partners, and Phillips 66 Partners.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Crossamerica Partners with a $16.50 average price target.
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Based on Crossamerica Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $398 million and net profit of $5.23 million. In comparison, last year the company earned revenue of $606 million and had a net profit of $6.44 million.
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CrossAmerica Partners LP engages in the wholesale distribution of motor fuels and owning and leasing of real estate used in the retail distribution of motor fuels. It operates through the following segments: Wholesale and Retail. The Wholesale segment distributes branded motor fuels such as ExxonMobil, BP, Motiva, Chevron, Sunoco, Valero, Gulf, Citgo, and Marathon. The Retail segment owns, leases and operates convenience stores used in the retail distribution of motor fuel. The company was founded on December 2, 2011 and is headquartered in Allentown, PA.