CrossAmerica Partners LP (CAPL) Hits Fresh High: Is There Still Room to Run?

A strong stock as of late has been CrossAmerica Partners (CAPL). Shares have been marching higher, with the stock up 4% over the past month. The stock hit a new 52-week high of $23.48 in the previous session. CrossAmerica has gained 13.1% since the start of the year compared to the 29.1% gain for the Zacks Oils-Energy sector and the 37.4% return for the Zacks Oil and Gas - Refining and Marketing - Master Limited Partnerships industry.

What's Driving the Outperformance?

The stock has an impressive record of positive earnings surprises, having beaten the Zacks Consensus Estimate in each of the last four quarters. In its last earnings report on August 5, 2026, CrossAmerica reported EPS of $0.5 versus consensus estimate of $0.38 while it beat the consensus revenue estimate by 61.19%.

For the current fiscal year, CrossAmerica is expected to post earnings of $1.33 per share on $4.05 in revenues. This represents a 30.39% change in EPS on a 10.5% change in revenues. For the next fiscal year, the company is expected to earn $1.15 per share on $4.68 in revenues. This represents a year-over-year change of -13.53% and 15.62%, respectively.

Valuation Metrics

CrossAmerica may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.

On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.

CrossAmerica has a Value Score of A. The stock's Growth and Momentum Scores are A and A, respectively, giving the company a VGM Score of A.

In terms of its value breakdown, the stock currently trades at 17.5X current fiscal year EPS estimates, which is a premium to the peer industry average of 12.3X. On a trailing cash flow basis, the stock currently trades at 10X versus its peer group's average of 8.9X. This is good enough to put the company in the top echelon of all stocks we cover from a value perspective, making CrossAmerica an interesting choice for value investors.

Zacks Rank

We also need to consider the stock's Zacks Rank, as this supersedes any trend on the style score front. Fortunately, CrossAmerica currently has a Zacks Rank of #1 (Strong Buy) thanks to a solid earnings estimate revision trend.

Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if CrossAmerica fits the bill. Thus, it seems as though CrossAmerica shares could have potential in the weeks and months to come.

How Does CAPL Stack Up to the Competition?

Shares of CAPL have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Global Partners LP (GLP). GLP has a Zacks Rank of #2 (Buy) and a Value Score of A, a Growth Score of C, and a Momentum Score of A.

Earnings were strong last quarter. Global Partners LP beat our consensus estimate by 50.00%, and for the current fiscal year, GLP is expected to post earnings of $5.87 per share on revenue of $27.42 billion.

Shares of Global Partners LP have gained 6.1% over the past month, and currently trade at a forward P/E of 8.65X and a P/CF of 6.87X.

The Oil and Gas - Refining and Marketing - Master Limited Partnerships industry is in the top 4% of all the industries we have in our universe, so it looks like there are some nice tailwinds for CAPL and GLP, even beyond their own solid fundamental situation.

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This article originally published on Zacks Investment Research (zacks.com).

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