Casey’s General Stores, Inc. (NASDAQ:CASY) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Casey’s General Stores, Inc. (NASDAQ:CASY) has been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $422.18.

Several research analysts recently weighed in on CASY shares. StockNews.com downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday. BMO Capital Markets reaffirmed a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Evercore ISI lowered their price target on Casey’s General Stores from $460.00 to $450.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Gordon Haskett raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Thursday, February 13th.

Casey’s General Stores Stock Down 0.8 %

Shares of CASY stock opened at $378.71 on Wednesday. Casey’s General Stores has a 1-year low of $290.00 and a 1-year high of $445.17. The stock’s fifty day moving average price is $409.64 and its 200 day moving average price is $399.61. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The company has a market cap of $14.06 billion, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. During the same period in the previous year, the business earned $2.33 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. On average, research analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the transaction, the insider now owns 2,247 shares of the company’s stock, valued at approximately $959,761.11. This represents a 16.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mike Spanos purchased 500 shares of Casey’s General Stores stock in a transaction that occurred on Monday, December 23rd. The stock was acquired at an average cost of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now directly owns 3,097 shares in the company, valued at $1,228,765.72. This trade represents a 19.25 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Casey’s General Stores by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company’s stock worth $1,505,319,000 after purchasing an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Casey’s General Stores by 1.8% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company’s stock worth $703,833,000 after purchasing an additional 31,131 shares during the period. FMR LLC raised its holdings in Casey’s General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after purchasing an additional 38,226 shares during the period. JPMorgan Chase & Co. raised its holdings in Casey’s General Stores by 18.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Casey’s General Stores by 29.5% in the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company’s stock worth $268,952,000 after purchasing an additional 154,541 shares during the period. Institutional investors and hedge funds 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.