Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $408.25 Consensus PT from Analysts

Casey’s General Stores, Inc. (NASDAQ:CASY) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $408.25.

CASY has been the subject of a number of recent research reports. Wells Fargo & Company raised their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Evercore ISI lifted their target price on shares of Casey’s General Stores from $435.00 to $440.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. downgraded shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock.

Casey’s General Stores Stock Performance

Shares of CASY opened at $420.89 on Monday. The company has a market capitalization of $15.62 billion, a PE ratio of 30.63 and a beta of 0.79. 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 company’s 50 day moving average price is $395.42 and its 200 day moving average price is $375.88. Casey’s General Stores has a 52 week low of $266.56 and a 52 week high of $435.60.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the company posted $4.52 EPS. Casey’s General Stores’s revenue was up 5.9% on a year-over-year basis. Research analysts expect 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 company’s 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 $3,438,890.56. The trade was a 24.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mike Spanos acquired 267 shares of Casey’s General Stores stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, with a total value of $100,440.06. Following the completion of the transaction, the director now directly owns 2,594 shares of the company’s stock, valued at $975,810.92. This trade represents 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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Park Place Capital Corp bought a new stake in shares of Casey’s General Stores in the second quarter valued at about $31,000. Innealta Capital LLC bought a new stake in shares of Casey’s General Stores in the 2nd quarter worth approximately $32,000. Advisors Asset Management Inc. acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth approximately $32,000. Bank & Trust Co bought a new stake in shares of Casey’s General Stores during the second quarter valued at approximately $40,000. Finally, Venturi Wealth Management LLC raised its stake in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after purchasing an additional 113 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.