Casey’s General Stores (NASDAQ:CASY) Rating Increased to Strong-Buy at Zacks Research

Casey’s General Stores (NASDAQ:CASY) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other equities analysts also recently weighed in on CASY. Bank of America began coverage on Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Casey’s General Stores in a research report on Monday, December 29th. Stephens lifted their price target on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on Casey’s General Stores in a report on Thursday, January 8th. Finally, UBS Group reissued a “neutral” rating on shares of Casey’s General Stores in a report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $595.90.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $604.63 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. The business has a 50-day moving average of $557.78 and a 200-day moving average of $539.17. The stock has a market capitalization of $22.41 billion, a price-to-earnings ratio of 37.19, a PEG ratio of 2.13 and a beta of 0.67. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $610.09.

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

Insider Activity

In related news, Director Moats Maria Castanon purchased 300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the completion of the transaction, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently bought and sold shares of the company. Foster Dykema Cabot & Partners LLC acquired a new stake in shares of Casey’s General Stores during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. lifted its stake in Casey’s General Stores by 100.0% during the third quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Casey’s General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC increased its stake in shares of Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. Finally, Nvwm LLC acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth $32,000. 85.63% of the stock is owned by institutional investors.

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.