Casey’s General Stores (NASDAQ:CASY) Upgraded by Wall Street Zen to “Buy” Rating

Casey’s General Stores (NASDAQ:CASY) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research firms have also weighed in on CASY. Bank of America assumed coverage on Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating on the stock. Wells Fargo & Company boosted their target price on shares of Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. KeyCorp reaffirmed an “overweight” rating and issued a $700.00 target price on shares of Casey’s General Stores in a research report on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Finally, Northcoast Research lowered shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $615.50.

Casey’s General Stores Trading Up 0.3%

Shares of CASY opened at $665.86 on Friday. Casey’s General Stores has a 1-year low of $372.08 and a 1-year high of $678.67. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $597.18 and its 200-day moving average price is $557.60. The firm has a market capitalization of $24.68 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 2.35 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The business had revenue of $4.51 billion during the quarter, compared to analyst estimates of $4.51 billion. During the same period last year, the business posted $4.85 earnings per share. Casey’s General Stores’s quarterly revenue was up 14.2% compared to the same quarter last year. Sell-side analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current year.

Insider Transactions at Casey’s General Stores

In other news, Director Moats Maria Castanon bought 300 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was acquired at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the acquisition, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This represents a 59.64% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds have recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC bought a new stake in Casey’s General Stores in the 3rd quarter worth about $25,000. Westside Investment Management Inc. boosted its holdings in shares of Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock valued at $26,000 after acquiring an additional 23 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Casey’s General Stores by 350.0% in the fourth quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. Central Pacific Bank Trust Division raised its holdings in shares of Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares during the last quarter. Finally, Nvwm LLC purchased a new position in shares of Casey’s General Stores during the second quarter valued at approximately $32,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.