Zacks Investment Research Upgrades Casey's General Stores (CASY) to “Hold”

Casey's General Stores (NASDAQ:CASY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Casey’s General Stores, Inc. and its wholly owned subsidiaries operate convenience stores under the names Casey’s and Casey’s General Store. The Company also operates two stores under the name Tobacco City, selling primarily tobacco products, and one grocery store. The Casey’s stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts, and sandwiches), beverages, tobacco products, health and beauty aids, automotive products, and other nonfood items. In addition, all but two stores offer fuel for sale on a self-service basis. Casey’s General Stores Inc. is a chain of convenience stores. Casey’s operates its own distribution centers, delivering approximately 90% of in-store products as well as approximately 75% of the fuel sold at own stores. “

Several other equities research analysts have also recently commented on CASY. Raymond James Financial reiterated a “market perform” rating on shares of Casey's General Stores in a research report on Wednesday, December 6th. Royal Bank of Canada reiterated a “hold” rating on shares of Casey's General Stores in a research report on Friday, December 8th. Barclays reiterated a “hold” rating on shares of Casey's General Stores in a research report on Friday, December 15th. Stephens set a $119.00 price target on shares of Casey's General Stores and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, Wells Fargo & Co lifted their price target on shares of Casey's General Stores from $105.00 to $118.00 and gave the stock a “market perform” rating in a research report on Thursday, January 4th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $120.78.

Shares of Casey's General Stores (NASDAQ CASY) opened at $113.79 on Tuesday. Casey's General Stores has a 1 year low of $99.76 and a 1 year high of $128.51. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.72 and a current ratio of 1.23. The company has a market cap of $4,270.00, a P/E ratio of 27.89, a PEG ratio of 1.93 and a beta of 0.51.

Casey's General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Monday, December 11th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.40 by ($0.12). Casey's General Stores had a return on equity of 13.42% and a net margin of 2.02%. The business had revenue of $2.15 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. research analysts expect that Casey's General Stores will post 4.2 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Prime Capital Investment Advisors LLC bought a new position in Casey's General Stores during the 4th quarter worth approximately $105,000. Amundi Pioneer Asset Management Inc. bought a new position in Casey's General Stores during the 4th quarter worth approximately $133,000. Zions Bancorporation bought a new position in Casey's General Stores during the 3rd quarter worth approximately $164,000. Aristotle Atlantic Partners LLC bought a new position in Casey's General Stores during the 4th quarter worth approximately $204,000. Finally, Franklin Resources Inc. bought a new position in Casey's General Stores during the 4th quarter worth approximately $222,000. 95.12% of the stock is currently owned by institutional investors and hedge funds.

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Casey's General Stores Company Profile

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

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