Casey’s General Stores (NASDAQ:CASY) Price Target Increased to $284.00 by Analysts at Royal Bank of Canada

Casey’s General Stores (NASDAQ:CASY) had its target price hoisted by Royal Bank of Canada from $275.00 to $284.00 in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a sector perform rating on the stock.

Several other equities analysts also recently issued reports on CASY. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Casey’s General Stores from $294.00 to $278.00 in a research note on Wednesday, June 28th. Benchmark reissued a buy rating and set a $275.00 target price on shares of Casey’s General Stores in a research note on Friday, July 14th. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $250.00 to $260.00 and gave the stock an overweight rating in a research note on Wednesday, September 6th. SpectralCast reissued a maintains rating on shares of Casey’s General Stores in a research note on Thursday, June 8th. Finally, StockNews.com assumed coverage on shares of Casey’s General Stores in a research note on Thursday, August 17th. They set a buy rating for the company. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $267.88.

Casey’s General Stores Stock Up 11.2 %

Casey’s General Stores stock opened at $266.12 on Tuesday. The company’s 50-day moving average price is $247.11 and its two-hundred day moving average price is $231.27. Casey’s General Stores has a twelve month low of $197.22 and a twelve month high of $267.95. The stock has a market cap of $9.95 billion, a P/E ratio of 22.33 and a beta of 0.83. The company has a quick ratio of 0.59, a current ratio of 0.99 and a debt-to-equity ratio of 0.61.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, September 12th. The company reported $4.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.36 by $1.16. Casey’s General Stores had a net margin of 2.96% and a return on equity of 17.13%. The business had revenue of $3.87 billion for the quarter, compared to analyst estimates of $3.90 billion. During the same quarter last year, the business posted $4.09 EPS. The firm’s revenue for the quarter was down 13.1% on a year-over-year basis. As a group, analysts expect that Casey’s General Stores will post 10.63 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CASY. Morgan Stanley boosted its holdings in Casey’s General Stores by 430.5% during the fourth quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock worth $256,090,000 after purchasing an additional 926,324 shares during the last quarter. Norges Bank bought a new stake in Casey’s General Stores in the fourth quarter worth about $82,961,000. Envestnet Asset Management Inc. raised its position in Casey’s General Stores by 357.1% in the first quarter. Envestnet Asset Management Inc. now owns 431,688 shares of the company’s stock worth $20,538,000 after acquiring an additional 337,249 shares during the period. Virginia Retirement Systems ET AL bought a new stake in Casey’s General Stores in the second quarter worth about $56,800,000. Finally, Goldman Sachs Group Inc. raised its position in Casey’s General Stores by 152.8% in the first quarter. Goldman Sachs Group Inc. now owns 384,281 shares of the company’s stock worth $76,153,000 after acquiring an additional 232,277 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

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.