BMO Capital Markets Boosts Casey’s General Stores (NASDAQ:CASY) Price Target to $540.00

Casey’s General Stores (NASDAQ:CASY) had its target price upped by equities research analysts at BMO Capital Markets from $515.00 to $540.00 in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage presently has a “market perform” rating on the stock. BMO Capital Markets’ target price would suggest a potential downside of 2.53% from the stock’s previous close.

CASY has been the topic of a number of other reports. KeyCorp raised their price target on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Jefferies Financial Group lifted their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company lifted their target price on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a report on Monday. Evercore ISI lifted their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stephens reaffirmed an “overweight” rating and set a $530.00 target price on shares of Casey’s General Stores in a report on Tuesday. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $505.25.

Casey’s General Stores Price Performance

Shares of CASY opened at $553.99 on Wednesday. The firm has a market capitalization of $20.60 billion, a price-to-earnings ratio of 35.56 and a beta of 0.66. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 1.03. Casey’s General Stores has a one year low of $362.42 and a one year high of $557.38. The stock’s fifty day moving average is $515.51 and its 200-day moving average is $471.14.

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

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the transaction, the insider owned 11,480 shares in the company, valued at $5,785,575.60. This trade represents a 29.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the transaction, the chief financial officer owned 26,754 shares of the company’s stock, valued at $13,623,404.34. This trade represents a 24.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,646 shares of company stock worth $21,634,454 over the last three months. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Institutional investors have recently bought and sold shares of the business. Samlyn Capital LLC boosted its position in 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 during the period. Security National Bank boosted its position in Casey’s General Stores by 9.7% during the 1st quarter. Security National Bank now owns 5,674 shares of the company’s stock worth $2,463,000 after acquiring an additional 504 shares during the period. Cornerstone Wealth Management LLC acquired a new stake in Casey’s General Stores during the 1st quarter worth about $201,000. M&T Bank Corp boosted its position in Casey’s General Stores by 39.6% during the 1st quarter. M&T Bank Corp now owns 2,515 shares of the company’s stock worth $1,092,000 after acquiring an additional 713 shares during the period. Finally, Ground Swell Capital LLC acquired a new stake in Casey’s General Stores during the 1st quarter worth about $338,000. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.