Brokerages Set Casey’s General Stores, Inc. (NASDAQ:CASY) PT at $408.25

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $408.25.

Several research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Evercore ISI lifted their price target on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Melius Research started coverage on shares of Casey’s General Stores in a report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price on the stock. JPMorgan Chase & Co. cut Casey’s General Stores from a “neutral” rating to an “underweight” rating and increased their price target for the company from $300.00 to $337.00 in a report on Thursday, September 19th. Finally, StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd.

Casey’s General Stores Stock Down 1.3 %

CASY stock opened at $420.98 on Monday. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $392.28 and a 200 day moving average of $374.41. Casey’s General Stores has a twelve month low of $266.56 and a twelve month high of $435.60. The firm has a market cap of $15.63 billion, a PE ratio of 30.70 and a beta of 0.79.

Casey’s General Stores (NASDAQ:CASY) last issued its 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 net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company earned $4.52 earnings per share. The business’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts forecast that Casey’s General Stores will post 14.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 9,044 shares in the company, valued at approximately $3,438,890.56. This represents a 24.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos purchased 267 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the transaction, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their position. The disclosure for this purchase can be found here. 0.56% of the stock is owned by insiders.

Institutional Trading of Casey’s General Stores

A number of large investors have recently made changes to their positions in CASY. Park Place Capital Corp purchased a new stake in Casey’s General Stores during the second quarter valued at approximately $31,000. Advisors Asset Management Inc. purchased a new stake in Casey’s General Stores during the 1st quarter valued at $32,000. Innealta Capital LLC purchased a new position in Casey’s General Stores during the second quarter worth $32,000. Bank & Trust Co bought a new position in Casey’s General Stores during the second quarter valued at $40,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Casey’s General Stores by 941.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after acquiring an additional 113 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors.

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.