Casey’s General Stores (NASDAQ:CASY) Cut to “Buy” at StockNews.com

Casey’s General Stores (NASDAQ:CASY) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also recently issued reports on the company. BMO Capital Markets raised their price objective on Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Jefferies Financial Group lifted their price target on Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $375.00 to $420.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. Benchmark restated a “buy” rating and issued a $410.00 target price on shares of Casey’s General Stores in a report on Wednesday. Finally, Wells Fargo & Company lifted their price target on shares of Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus target price of $401.22.

Casey’s General Stores Price Performance

Shares of CASY stock traded down $2.56 during trading hours on Wednesday, hitting $374.13. The company’s stock had a trading volume of 220,856 shares, compared to its average volume of 289,403. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. The business has a fifty day moving average of $359.06 and a 200-day moving average of $322.19. The stock has a market cap of $13.88 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.74 and a beta of 0.80. Casey’s General Stores has a twelve month low of $238.44 and a twelve month high of $389.43.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.49 earnings per share. As a group, equities research analysts anticipate that Casey’s General Stores will post 14.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CASY. Rise Advisors LLC purchased a new stake in shares of Casey’s General Stores during the 1st quarter valued at about $30,000. Park Place Capital Corp purchased a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $31,000. Advisors Asset Management Inc. acquired a new position in shares of Casey’s General Stores during the first quarter worth $32,000. V Square Quantitative Management LLC purchased a new position in shares of Casey’s General Stores in the fourth quarter valued at $35,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new stake in Casey’s General Stores during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.