Evercore ISI Has Lowered Expectations for Casey’s General Stores (NASDAQ:CASY) Stock Price

Casey’s General Stores (NASDAQ:CASY) had its price target lowered by research analysts at Evercore ISI from $460.00 to $450.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 11.92% from the company’s current price.

Several other analysts also recently issued reports on CASY. Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a report on Tuesday, December 10th. StockNews.com downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $450.00 target price (up from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and an average price target of $423.09.

Casey’s General Stores Stock Performance

CASY opened at $402.07 on Tuesday. The business has a 50 day moving average price of $409.76 and a two-hundred day moving average price of $399.63. 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 capitalization of $14.92 billion, a price-to-earnings ratio of 28.02, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. Casey’s General Stores has a 1-year low of $290.00 and a 1-year high of $445.17.

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, beating 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 business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same quarter last year, the business posted $2.33 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis. Research analysts predict that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Mike Spanos acquired 500 shares of the stock in a transaction dated Monday, December 23rd. The shares were acquired at an average price of $396.76 per share, with a total value of $198,380.00. Following the acquisition, the director now owns 3,097 shares in the company, valued at approximately $1,228,765.72. The trade was a 19.25 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.56% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Casey’s General Stores by 24.0% during the third quarter. Janney Montgomery Scott LLC now owns 7,210 shares of the company’s stock valued at $2,709,000 after acquiring an additional 1,395 shares during the period. QRG Capital Management Inc. bought a new position in Casey’s General Stores during the 3rd quarter valued at about $209,000. Atria Investments Inc boosted its position in Casey’s General Stores by 3.2% in the third quarter. Atria Investments Inc now owns 3,198 shares of the company’s stock valued at $1,201,000 after buying an additional 100 shares in the last quarter. Kennebec Savings Bank bought a new stake in Casey’s General Stores during the third quarter worth about $76,000. Finally, Venturi Wealth Management LLC increased its holdings in shares of Casey’s General Stores by 941.7% during the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock worth $47,000 after buying an additional 113 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

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.