UBS Group Begins Coverage on Casey’s General Stores (NASDAQ:CASY)

UBS Group initiated coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a report issued on Wednesday, MarketBeat reports. The firm set a “hold” rating and a $600.00 price target on the stock. UBS Group’s price target would indicate a potential upside of 6.54% from the company’s previous close.

Several other analysts also recently commented on the stock. BMO Capital Markets lifted their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the stock a “market perform” rating in a report on Wednesday, September 10th. Evercore ISI increased their target price on Casey’s General Stores from $585.00 to $610.00 and gave the stock an “outperform” rating in a research note on Tuesday. Jefferies Financial Group lifted their price target on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday, September 9th. The Goldman Sachs Group increased their price objective on Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Finally, Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $575.78.

Casey’s General Stores Stock Up 1.4%

Shares of CASY stock opened at $563.15 on Wednesday. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $573.76. The stock has a market cap of $20.94 billion, a price-to-earnings ratio of 36.15 and a beta of 0.65. The firm’s 50-day moving average is $548.71 and its 200-day moving average is $520.58. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping analysts’ consensus estimates of $5.02 by $0.75. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter in the previous year, the business earned $4.83 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that Casey’s General Stores will post 13.94 EPS for the current year.

Insider Buying and Selling at Casey’s General Stores

In other news, insider Chad Michael Frazell sold 3,487 shares of the company’s stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This represents a 30.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently bought and sold shares of the company. Samlyn Capital LLC boosted its position in shares of Casey’s General Stores by 42.8% during the 1st quarter. Samlyn Capital LLC now owns 255,659 shares of the company’s stock worth $110,966,000 after acquiring an additional 76,673 shares in the last quarter. UNIVEST FINANCIAL Corp lifted its stake in Casey’s General Stores by 157.2% during the second quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock worth $4,366,000 after purchasing an additional 5,230 shares during the last quarter. Franklin Resources Inc. lifted its stake in Casey’s General Stores by 0.3% during the second quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after purchasing an additional 2,467 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter valued at $338,000. Finally, West Bancorporation Inc. bought a new position in shares of Casey’s General Stores in the 2nd quarter valued at $278,000. Institutional investors 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.