StockNews.com Lowers Casey’s General Stores (NASDAQ:CASY) to Buy

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

A number of other equities research analysts also recently weighed in on CASY. Royal Bank of Canada raised their target price on Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a report on Wednesday, June 12th. Benchmark raised their target price on Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Wells Fargo & Company raised their target price on Casey’s General Stores from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Evercore ISI reduced their target price on Casey’s General Stores from $350.00 to $345.00 and set an “outperform” rating on the stock in a report on Tuesday, April 16th. Finally, BMO Capital Markets raised their target price on Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $380.11.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $376.83 on Thursday. The firm has a market cap of $13.95 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.73 and a beta of 0.83. The company has a current ratio of 0.87, a quick ratio of 0.42 and a debt-to-equity ratio of 0.52. Casey’s General Stores has a 1-year low of $216.95 and a 1-year high of $389.43. The business’s 50 day moving average is $330.47 and its 200-day moving average is $304.06.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a return on equity of 17.25% and a net margin of 3.38%. The firm had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the company earned $1.49 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities research analysts predict that Casey’s General Stores will post 14.18 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale raised its position in shares of Casey’s General Stores by 321.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 26,862 shares of the company’s stock worth $8,531,000 after acquiring an additional 20,492 shares in the last quarter. Cetera Advisors LLC increased its position in Casey’s General Stores by 130.0% in the 1st quarter. Cetera Advisors LLC now owns 5,830 shares of the company’s stock valued at $1,857,000 after buying an additional 3,295 shares in the last quarter. Cetera Investment Advisers increased its position in Casey’s General Stores by 255.8% in the 1st quarter. Cetera Investment Advisers now owns 9,291 shares of the company’s stock valued at $2,959,000 after buying an additional 6,680 shares in the last quarter. Tidal Investments LLC bought a new stake in Casey’s General Stores in the 1st quarter valued at about $214,000. Finally, Motley Fool Asset Management LLC bought a new stake in Casey’s General Stores in the 1st quarter valued at about $246,000. 85.63% of the stock is owned by institutional investors.

Casey’s General Stores Company Profile

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.