Casey’s General Stores (NASDAQ:CASY) Raised to Strong-Buy at StockNews.com

Casey’s General Stores (NASDAQ:CASY) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a report released on Wednesday.

CASY has been the topic of a number of other research reports. Jefferies Financial Group upped their target price on Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, May 15th. Wells Fargo & Company boosted their price target on Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Benchmark reissued a “buy” rating and issued a $312.00 price target on shares of Casey’s General Stores in a research report on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Casey’s General Stores from $337.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $345.33.

Casey’s General Stores Trading Up 16.7 %

NASDAQ:CASY traded up $54.60 during mid-day trading on Wednesday, reaching $381.13. 1,643,551 shares of the company’s stock traded hands, compared to its average volume of 291,604. Casey’s General Stores has a 12-month low of $216.95 and a 12-month high of $389.43. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 30.30, a PEG ratio of 2.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.89 and a quick ratio of 0.42. The company has a 50 day moving average price of $324.17 and a 200-day moving average price of $300.57.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the business earned $1.49 EPS. Casey’s General Stores’s revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts predict that Casey’s General Stores will post 12.78 earnings per share for the current year.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Wealth Solutions Inc. bought a new position in shares of Casey’s General Stores during the 3rd quarter valued at $430,000. Pathstone Family Office LLC lifted its holdings in shares of Casey’s General Stores by 103.5% during the 3rd quarter. Pathstone Family Office LLC now owns 2,413 shares of the company’s stock valued at $655,000 after buying an additional 1,227 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Casey’s General Stores by 3.7% during the 3rd quarter. HighTower Advisors LLC now owns 11,773 shares of the company’s stock valued at $3,214,000 after buying an additional 418 shares during the period. Rhumbline Advisers lifted its holdings in shares of Casey’s General Stores by 7.5% during the 3rd quarter. Rhumbline Advisers now owns 134,334 shares of the company’s stock valued at $36,474,000 after buying an additional 9,429 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Casey’s General Stores by 1.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 102,576 shares of the company’s stock valued at $27,852,000 after buying an additional 1,270 shares during the period. 85.63% of the stock is owned by institutional investors.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.