Evercore ISI Cuts Casey’s General Stores (NASDAQ:CASY) Price Target to $350.00

Casey’s General Stores (NASDAQ:CASYGet Free Report) had its price objective reduced by Evercore ISI from $355.00 to $350.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price objective would indicate a potential upside of 12.20% from the stock’s previous close.

A number of other brokerages have also weighed in on CASY. BMO Capital Markets raised their price objective on Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research note on Wednesday, March 13th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st. Royal Bank of Canada raised their price objective on Casey’s General Stores from $291.00 to $296.00 and gave the company a “sector perform” rating in a research note on Tuesday, December 12th. Benchmark restated a “buy” rating and set a $312.00 price objective on shares of Casey’s General Stores in a research note on Wednesday, March 6th. Finally, Stephens raised their price objective on Casey’s General Stores from $305.00 to $340.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $308.44.

Get Our Latest Analysis on Casey’s General Stores

Casey’s General Stores Stock Down 1.1 %

Shares of CASY stock traded down $3.42 during trading hours on Tuesday, reaching $311.95. The company had a trading volume of 36,475 shares, compared to its average volume of 270,834. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.42 and a current ratio of 0.89. Casey’s General Stores has a twelve month low of $212.50 and a twelve month high of $324.40. The company has a market capitalization of $11.55 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 2.54 and a beta of 0.83. The stock’s fifty day simple moving average is $295.34 and its 200 day simple moving average is $282.72.

Casey’s General Stores (NASDAQ:CASYGet Free Report) last posted its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.13. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.51 billion. During the same quarter last year, the firm earned $2.36 earnings per share. The company’s revenue for the quarter was down .1% compared to the same quarter last year. As a group, sell-side analysts expect that Casey’s General Stores will post 12.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mike Spanos purchased 725 shares of the business’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were acquired at an average price of $275.43 per share, with a total value of $199,686.75. Following the acquisition, the director now owns 1,791 shares in the company, valued at approximately $493,295.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.47% of the stock is currently owned by company insiders.

Institutional Trading of Casey’s General Stores

Several hedge funds have recently made changes to their positions in the stock. Point72 Europe London LLP acquired a new stake in Casey’s General Stores in the 4th quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in Casey’s General Stores in the 4th quarter valued at approximately $29,000. Money Concepts Capital Corp increased its position in Casey’s General Stores by 62.7% in the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after acquiring an additional 47 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Casey’s General Stores during the 4th quarter valued at $35,000. Finally, Sunbelt Securities Inc. increased its position in shares of Casey’s General Stores by 46.6% during the 2nd quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock valued at $31,000 after purchasing an additional 41 shares during the period. Institutional investors own 85.63% of the company’s stock.

About Casey’s General Stores

(Get Free Report)

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.

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