Jefferies Group Upgrades Casey’s General Stores Inc. (CASY) to Buy
Casey’s General Stores Inc. (NASDAQ:CASY) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $134.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 12.51% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Goldman Sachs Group Inc. upgraded Casey’s General Stores from a “neutral” rating to a “buy” rating and increased their price target for the stock from $123.00 to $145.00 in a research report on Wednesday, June 29th. Bank of America Corp. started coverage on Casey’s General Stores in a report on Monday, July 25th. They set a “buy” rating and a $150.00 target price for the company. Royal Bank Of Canada increased their target price on Casey’s General Stores from $139.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, September 1st. Barclays PLC started coverage on Casey’s General Stores in a report on Thursday, September 22nd. They set an “equal weight” rating and a $116.00 target price for the company. Finally, Deutsche Bank AG increased their target price on Casey’s General Stores from $130.00 to $141.00 and gave the company a “buy” rating in a report on Friday, August 19th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $135.90.
Casey’s General Stores (NASDAQ:CASY) opened at 119.10 on Friday. Casey’s General Stores has a 12-month low of $98.80 and a 12-month high of $136.22. The company’s 50-day moving average price is $125.28 and its 200-day moving average price is $121.65. The stock has a market cap of $4.67 billion, a PE ratio of 20.32 and a beta of 0.51.
Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, September 6th. The company reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.81 by $0.11. The business had revenue of $1.97 billion for the quarter. Casey’s General Stores had a return on equity of 21.62% and a net margin of 3.29%. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 EPS. On average, equities analysts expect that Casey’s General Stores will post $5.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st will be issued a $0.24 dividend. The ex-dividend date is Friday, October 28th. This represents a $0.96 annualized dividend and a dividend yield of 0.81%. Casey’s General Stores’s dividend payout ratio is presently 16.38%.
In related news, Director Richard A. Wilkey purchased 340 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was purchased at an average price of $117.80 per share, with a total value of $40,052.00. Following the completion of the acquisition, the director now owns 15,000 shares in the company, valued at $1,767,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of CASY. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores during the second quarter valued at approximately $132,000. IFP Advisors Inc raised its position in shares of Casey’s General Stores by 179.3% in the first quarter. IFP Advisors Inc now owns 1,271 shares of the company’s stock valued at $144,000 after buying an additional 816 shares during the last quarter. Calamos Wealth Management LLC acquired a new position in shares of Casey’s General Stores during the second quarter valued at $205,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Casey’s General Stores during the second quarter valued at $211,000. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Casey’s General Stores during the second quarter valued at $221,000. 83.53% of the stock is owned by hedge funds and other institutional investors.
About Casey’s General Stores
Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.
Receive News & Ratings for Casey's General Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casey's General Stores Inc. and related companies with MarketBeat.com's FREE daily email newsletter.