Casey’s General Stores (NASDAQ:CASY) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a research report report published on Wednesday, MarketBeat.com reports. The brokerage issued a hold rating and a $600.00 target price on the stock.

Several other research firms have also recently commented on CASY. Jefferies Financial Group raised their price target on Casey’s General Stores from $575.00 to $600.00 and gave the company a “buy” rating in a report on Tuesday, September 9th. The Goldman Sachs Group upped their price target on shares of Casey’s General Stores from $450.00 to $490.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 10th. Evercore ISI increased their price target on shares of Casey’s General Stores from $585.00 to $610.00 and gave the company an “outperform” rating in a report on Tuesday. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, BMO Capital Markets increased their target price on shares of Casey’s General Stores from $515.00 to $540.00 and gave the company a “market perform” rating in a report on Wednesday, September 10th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores presently has an average rating of “Moderate Buy” and an average price target of $575.78.

Casey’s General Stores Price Performance

CASY stock opened at $567.03 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.61 and a debt-to-equity ratio of 0.65. Casey’s General Stores has a twelve month low of $372.08 and a twelve month high of $573.76. The business has a 50 day simple moving average of $549.10 and a 200-day simple moving average of $521.35. The company has a market capitalization of $21.08 billion, a P/E ratio of 36.39 and a beta of 0.65.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results 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 analysts’ expectations of $4.47 billion. During the same quarter last year, the business earned $4.83 EPS. The business’s revenue was up 11.5% on a year-over-year basis. As a group, equities analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current year.

Insider Activity

In related news, insider Chad Michael Frazell sold 3,487 shares of the stock in a transaction on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider owned 7,993 shares of the company’s stock, valued at $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Casey’s General Stores by 190.6% in the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company’s stock valued at $540,081,000 after purchasing an additional 816,110 shares during the period. Vontobel Holding Ltd. grew its holdings in Casey’s General Stores by 129.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 890,884 shares of the company’s stock valued at $503,635,000 after buying an additional 502,104 shares during the period. Norges Bank purchased a new stake in Casey’s General Stores in the 2nd quarter valued at about $210,151,000. JPMorgan Chase & Co. increased its stake in shares of Casey’s General Stores by 42.0% during the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company’s stock valued at $449,851,000 after acquiring an additional 306,628 shares during the last quarter. Finally, Third Point LLC purchased a new position in shares of Casey’s General Stores during the 1st quarter worth about $130,212,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.