Casey’s General Stores (NASDAQ:CASY) PT Raised to $285.00

Casey’s General Stores (NASDAQ:CASY) had its price objective boosted by stock analysts at Wells Fargo & Company from $260.00 to $285.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 1.80% from the company’s current price.

Several other brokerages also recently issued reports on CASY. Stephens reiterated an “overweight” rating and issued a $280.00 target price on shares of Casey’s General Stores in a research note on Tuesday. Credit Suisse Group upgraded shares of Casey’s General Stores from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $285.00 in a research report on Tuesday, July 18th. Royal Bank of Canada raised their price objective on shares of Casey’s General Stores from $275.00 to $284.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Benchmark restated a “buy” rating and set a $275.00 price objective on shares of Casey’s General Stores in a research report on Tuesday. Finally, StockNews.com assumed coverage on shares of Casey’s General Stores in a research report 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 eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.11.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $279.96 on Wednesday. Casey’s General Stores has a fifty-two week low of $197.22 and a fifty-two week high of $280.00. The stock has a market capitalization of $10.47 billion, a price-to-earnings ratio of 23.49 and a beta of 0.83. The business has a 50-day moving average of $248.43 and a 200-day moving average of $231.92. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.99 and a quick ratio of 0.59.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 12th. The company reported $4.52 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.90 billion. During the same period last year, the business posted $4.09 EPS. Casey’s General Stores’s revenue was down 13.1% on a year-over-year basis. As a group, sell-side analysts predict that Casey’s General Stores will post 10.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Alaska Permanent Fund Corp bought a new position in Casey’s General Stores in the second quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV increased its stake in Casey’s General Stores by 100.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 106 shares of the company’s stock valued at $26,000 after acquiring an additional 53 shares during the last quarter. Andesa Financial Management Inc. bought a new position in Casey’s General Stores in the first quarter valued at approximately $211,000. Money Concepts Capital Corp grew its stake in shares of Casey’s General Stores by 62.7% during the fourth quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock worth $27,000 after buying an additional 47 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in shares of Casey’s General Stores by 49.4% during the second quarter. Global Retirement Partners LLC now owns 124 shares of the company’s stock worth $30,000 after buying an additional 41 shares during the last quarter. 85.43% of the stock is owned by institutional investors.

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.