Crossamerica Partners Receives a Buy from FBR Capital

By Ryan Adsit

FBR Capital analyst Robert Balsamo reiterated a Buy rating on Crossamerica Partners (NYSE: CAPL) yesterday. The company’s shares opened today at $24.93.

According to TipRanks.com, Balsamo is a 1-star analyst with an average return of -3.3% and a 50.0% success rate. Balsamo covers the Basic Materials sector, focusing on stocks such as Calumet Specialty Products, Dcp Midstream Partners Lp, and EnLink Midstream Partners.

Currently, the analyst consensus on Crossamerica Partners is Moderate Buy and the average price target is $27, representing an 8.3% upside.

In a report issued on February 28, Jefferies also reiterated a Buy rating on the stock with a $29 price target.

The company has a one year high of $27.94 and a one year low of $22.29. Currently, Crossamerica Partners has an average volume of 44.15K.

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CrossAmerica Partners LP engages in the distribution of petroleum for motor vehicles. It operates through the Wholesale and Retail segments. 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.