Benchmark Reaffirms “Buy” Rating for Casey’s General Stores (NASDAQ:CASY)

Casey’s General Stores (NASDAQ:CASY)‘s stock had its “buy” rating restated by investment analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $410.00 price objective on the stock. Benchmark’s target price suggests a potential upside of 9.81% from the stock’s previous close.

Several other brokerages also recently commented on CASY. StockNews.com downgraded Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada raised their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the stock a “sector perform” rating in a research note on Thursday, September 5th. 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 research note on Wednesday, June 12th. Finally, Northcoast Research raised Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $410.00 price target on the stock in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $401.20.

Casey’s General Stores Stock Down 0.4 %

Shares of CASY opened at $373.38 on Tuesday. The firm has a market capitalization of $13.86 billion, a price-to-earnings ratio of 27.80, a PEG ratio of 2.71 and a beta of 0.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The business’s fifty day moving average price is $373.45 and its two-hundred day moving average price is $344.17. Casey’s General Stores has a 52 week low of $254.25 and a 52 week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same period last year, the company earned $4.52 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. On average, analysts predict that Casey’s General Stores will post 13.45 earnings per share for the current year.

Insider Transactions at Casey’s General Stores

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Darren M. Rebelez sold 13,500 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $374.54, for a total value of $5,056,290.00. Following the sale, the chief executive officer now owns 73,838 shares of the company’s stock, valued at $27,655,284.52. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the completion of the sale, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of institutional investors have recently bought and sold shares of CASY. Rise Advisors LLC bought a new stake in Casey’s General Stores during the first quarter valued at $30,000. Park Place Capital Corp bought a new position in shares of Casey’s General Stores during the 2nd quarter worth about $31,000. Advisors Asset Management Inc. bought a new position in shares of Casey’s General Stores during the 1st quarter worth about $32,000. Innealta Capital LLC bought a new position in shares of Casey’s General Stores during the 2nd quarter worth about $32,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Casey’s General Stores during the 4th quarter worth about $35,000. Institutional investors 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.