Casey’s General Stores (NASDAQ:CASY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a buy rating in a report issued on Monday morning.

CASY has been the subject of a number of other research reports. Northcoast Research downgraded shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. Stephens upped their target price on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft set a $688.00 price target on Casey’s General Stores in a research report on Thursday, January 8th. Evercore set a $665.00 price objective on Casey’s General Stores and gave the company an “outperform” rating in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $662.00 target price on shares of Casey’s General Stores in a research report on Friday, January 23rd. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $647.00.

Casey’s General Stores Stock Up 0.8%

Shares of Casey’s General Stores stock opened at $683.89 on Monday. The firm has a market cap of $25.35 billion, a P/E ratio of 42.06, a P/E/G ratio of 2.39 and a beta of 0.65. The business has a 50-day moving average price of $628.11 and a 200 day moving average price of $572.05. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $690.00.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.The firm had revenue of $4.51 billion for the quarter, compared to analysts’ expectations of $4.51 billion. During the same period last year, the business posted $4.85 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Activity

In other Casey’s General Stores news, Director Moats Maria Castanon purchased 300 shares of the stock in a transaction dated Monday, January 5th. The shares were bought at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the acquisition, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Casey’s General Stores by 179,938.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,659,164 shares of the company’s stock valued at $1,469,747,000 after acquiring an additional 2,657,687 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Casey’s General Stores by 40.9% during the fourth quarter. Franklin Resources Inc. now owns 1,068,682 shares of the company’s stock valued at $590,671,000 after purchasing an additional 310,470 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Casey’s General Stores by 129.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock valued at $503,635,000 after purchasing an additional 502,104 shares during the period. Victory Capital Management Inc. boosted its position in shares of Casey’s General Stores by 35.4% in the 3rd quarter. Victory Capital Management Inc. now owns 791,415 shares of the company’s stock valued at $447,403,000 after purchasing an additional 206,777 shares during the period. Finally, Geode Capital Management LLC increased its stake in Casey’s General Stores by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after purchasing an additional 52,250 shares in the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.