Casey’s General Stores (NASDAQ:CASY) Rating Lowered to “Hold” at Wall Street Zen

Casey’s General Stores (NASDAQ:CASY) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Saturday.

Several other equities research analysts have also issued reports on the company. BNP Paribas Exane started coverage on Casey’s General Stores in a research report on Tuesday, January 20th. They set an “outperform” rating and a $730.00 price target on the stock. Zacks Research upgraded shares of Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Northcoast Research cut Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. Wells Fargo & Company increased their price objective on shares of Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Finally, Exane BNP Paribas began coverage on Casey’s General Stores in a research note on Tuesday, January 20th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $624.09.

Casey’s General Stores Price Performance

CASY stock opened at $606.50 on Friday. Casey’s General Stores has a 52-week low of $372.08 and a 52-week high of $647.99. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $22.48 billion, a PE ratio of 37.30, a P/E/G ratio of 2.14 and a beta of 0.68. The stock’s 50 day moving average is $579.60 and its two-hundred day moving average is $548.91.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.85 earnings per share. Analysts predict that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Moats Maria Castanon acquired 300 shares of Casey’s General Stores stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average price of $554.66 per share, with a total value of $166,398.00. Following the completion of the transaction, the director owned 803 shares in the company, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. NewEdge Advisors LLC increased its position in Casey’s General Stores by 6.4% during the first quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after buying an additional 113 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Casey’s General Stores by 129.6% in the first quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock valued at $81,000 after buying an additional 105 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Casey’s General Stores by 255.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 18,920 shares of the company’s stock worth $9,654,000 after acquiring an additional 13,591 shares during the period. Curran Financial Partners LLC bought a new position in Casey’s General Stores in the second quarter worth $204,000. Finally, QRG Capital Management Inc. lifted its holdings in shares of Casey’s General Stores by 78.7% during the 2nd quarter. QRG Capital Management Inc. now owns 1,837 shares of the company’s stock worth $937,000 after acquiring an additional 809 shares during the period. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.