Casey’s General Stores (NASDAQ:CASY) Given New $540.00 Price Target at Wells Fargo & Company

Casey’s General Stores (NASDAQ:CASY) had its target price lifted by investment analysts at Wells Fargo & Company from $460.00 to $540.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 10.16% from the stock’s current price.

Several other research analysts also recently issued reports on CASY. Wall Street Zen downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Stephens reiterated an “overweight” rating and issued a $490.00 price target on shares of Casey’s General Stores in a research report on Tuesday. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Evercore ISI lifted their price objective on Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 1st. Finally, KeyCorp initiated coverage on Casey’s General Stores in a research report on Friday, April 11th. They issued an “overweight” rating and a $500.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $443.77.

Casey’s General Stores Stock Up 11.6%

Shares of NASDAQ CASY opened at $490.20 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average price of $448.42 and a 200 day moving average price of $424.74. Casey’s General Stores has a 52 week low of $322.78 and a 52 week high of $509.08. The stock has a market capitalization of $18.20 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS 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 business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. During the same quarter in the previous year, the company earned $2.34 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the business’s 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 transaction, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. The trade was a 9.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mike Spanos bought 256 shares of the stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $390.54 per share, with a total value of $99,978.24. Following the purchase, the director now owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. This represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of hedge funds have recently made changes to their positions in CASY. Versant Capital Management Inc purchased a new position in Casey’s General Stores in the 1st quarter valued at about $25,000. Global Financial Private Client LLC increased its holdings in Casey’s General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Casey’s General Stores in the 1st quarter valued at approximately $32,000. Iron Horse Wealth Management LLC boosted its stake in shares of Casey’s General Stores by 40.0% during the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after buying an additional 26 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at approximately $47,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.