The Goldman Sachs Group Raises Casey’s General Stores (NASDAQ:CASY) Price Target to $490.00

Casey’s General Stores (NASDAQ:CASY) had its target price raised by investment analysts at The Goldman Sachs Group from $450.00 to $490.00 in a report released on Wednesday, Marketbeat reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential downside of 11.55% from the company’s previous close.

A number of other brokerages have also commented on CASY. KeyCorp boosted their target price on Casey’s General Stores from $550.00 to $575.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Wall Street Zen raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Evercore ISI upped their target price on Casey’s General Stores from $560.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company increased 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. Finally, BMO Capital Markets boosted their price target on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $505.25.

Casey’s General Stores Trading Up 2.9%

Shares of CASY stock opened at $553.99 on Wednesday. Casey’s General Stores has a fifty-two week low of $362.42 and a fifty-two week high of $557.38. 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 stock has a 50 day simple moving average of $515.51 and a two-hundred day simple moving average of $471.14. The company has a market cap of $20.60 billion, a P/E ratio of 35.56 and a beta of 0.66.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey’s General Stores had a net margin of 3.54% and a return on equity of 16.73%. The company had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the firm posted $4.83 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Research analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current year.

Insider Activity at Casey’s General Stores

In other Casey’s General Stores news, insider Chad Michael Frazell sold 4,808 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $503.97, for a total value of $2,423,087.76. Following the completion of the sale, the insider owned 11,480 shares in the company, valued at approximately $5,785,575.60. This trade represents a 29.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was 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 in the company, valued at $13,623,404.34. The trade was a 24.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,646 shares of company stock valued at $21,634,454 over the last three months. Insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of institutional investors and hedge funds have recently modified their holdings of the business. Versant Capital Management Inc purchased a new position in Casey’s General Stores in the first quarter worth $25,000. Nvwm LLC bought a new stake in shares of Casey’s General Stores during the 2nd quarter worth $32,000. Global Financial Private Client LLC raised its stake in shares of Casey’s General Stores by 325.0% during the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock worth $30,000 after purchasing an additional 52 shares during the period. Rossby Financial LCC boosted its holdings in shares of Casey’s General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company’s stock worth $35,000 after buying an additional 58 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Casey’s General Stores during the first quarter valued at about $32,000. 85.63% of the stock is owned by hedge funds and other 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.