Casey’s General Stores (NASDAQ:CASY) Receives Overweight Rating from Stephens

Casey’s General Stores (NASDAQ:CASY)‘s stock had its “overweight” rating reiterated by Stephens in a report released on Tuesday,Benzinga reports. They presently have a $490.00 price target on the stock. Stephens’ price objective points to a potential downside of 1.67% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on CASY. Evercore ISI upped their price target on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a report on Tuesday, April 1st. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th. KeyCorp started coverage on shares of Casey’s General Stores in a report on Friday, April 11th. They set an “overweight” rating and a $500.00 price target for the company. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Wall Street Zen lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Friday, May 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $434.92.

Casey’s General Stores Stock Up 13.4%

Shares of NASDAQ:CASY traded up $59.05 during midday trading on Tuesday, hitting $498.34. 440,092 shares of the company’s stock traded hands, compared to its average volume of 302,433. The firm’s fifty day moving average price is $447.60 and its two-hundred day moving average price is $424.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. Casey’s General Stores has a twelve month low of $322.78 and a twelve month high of $508.72. The company has a market cap of $18.50 billion, a PE ratio of 34.87, a P/E/G ratio of 2.40 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.95 billion. During the same quarter in the prior year, the business earned $2.34 earnings per share. The company’s revenue was up 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, Director Mike Spanos acquired 256 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $390.54 per share, with a total value of $99,978.24. Following the transaction, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. This represents a 8.26% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the sale, the insider now owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their position. The disclosure for this sale can be found here. 0.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of Casey’s General Stores in the 1st quarter worth approximately $28,994,000. Advisors Capital Management LLC lifted its stake in Casey’s General Stores by 1.1% in the first quarter. Advisors Capital Management LLC now owns 45,985 shares of the company’s stock valued at $19,959,000 after buying an additional 488 shares during the last quarter. WBI Investments LLC lifted its stake in Casey’s General Stores by 39.7% in the first quarter. WBI Investments LLC now owns 1,453 shares of the company’s stock valued at $631,000 after buying an additional 413 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Casey’s General Stores by 129.6% during the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after acquiring an additional 105 shares during the period. Finally, Integrity Alliance LLC. boosted its holdings in shares of Casey’s General Stores by 1,773.7% during the first quarter. Integrity Alliance LLC. now owns 17,894 shares of the company’s stock valued at $7,767,000 after acquiring an additional 16,939 shares during the period. 85.63% of the stock is currently owned by institutional investors and hedge funds.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.