Evercore ISI Forecasts Strong Price Appreciation for Casey’s General Stores (NASDAQ:CASY) Stock

Casey’s General Stores (NASDAQ:CASY) had its price objective lifted by analysts at Evercore ISI from $560.00 to $580.00 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 4.70% from the company’s current price.

Several other equities analysts have also issued reports on CASY. BMO Capital Markets lifted their price target on Casey’s General Stores from $450.00 to $515.00 and gave the company a “market perform” rating in a research note on Wednesday, June 11th. Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. KeyCorp boosted their price objective on Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Wells Fargo & Company boosted their price objective on Casey’s General Stores from $540.00 to $580.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Stephens restated an “overweight” rating and set a $530.00 price objective on shares of Casey’s General Stores in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $505.25.

Casey’s General Stores Trading Up 2.9%

Shares of CASY opened at $553.99 on Wednesday. Casey’s General Stores has a 52-week low of $362.42 and a 52-week high of $557.38. The business’s fifty day moving average is $515.51 and its 200-day moving average is $471.14. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 1.03. The firm has a market cap of $20.60 billion, a price-to-earnings ratio of 35.56 and a beta of 0.66.

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

Insider Buying and Selling at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the completion of the sale, the chief executive officer directly owned 89,840 shares of the company’s stock, valued at approximately $45,623,447.20. The trade was a 18.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Thomas P. Brennan, Jr. sold 6,600 shares of the business’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $506.03, for a total value of $3,339,798.00. Following the sale, the insider directly owned 2,100 shares of the company’s stock, valued at $1,062,663. This represents a 75.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,646 shares of company stock worth $21,634,454 in the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CASY. Versant Capital Management Inc bought a new stake in Casey’s General Stores during the 1st quarter worth approximately $25,000. Global Financial Private Client LLC grew its holdings in shares of Casey’s General Stores by 325.0% in the first quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock valued at $30,000 after acquiring an additional 52 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Casey’s General Stores in the first quarter valued at approximately $32,000. Nvwm LLC bought a new position in shares of Casey’s General Stores in the second quarter valued at approximately $32,000. Finally, Rossby Financial LCC grew its holdings in shares of Casey’s General Stores by 580.0% in the second quarter. Rossby Financial LCC now owns 68 shares of the company’s stock valued at $35,000 after acquiring an additional 58 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

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.