Casey’s General Stores (CASY) Lifted to “Hold” at BidaskClub

Casey’s General Stores (NASDAQ:CASY) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Friday, May 10th, BidAskClub reports.

Several other analysts also recently issued reports on CASY. Sidoti set a $138.00 price objective on shares of Casey’s General Stores and gave the stock a “hold” rating in a report on Friday, February 15th. Zacks Investment Research downgraded shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Wednesday, March 13th. Gabelli reissued a “buy” rating on shares of Casey’s General Stores in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Casey’s General Stores in a report on Thursday, April 25th. They issued a “neutral” rating and a $140.00 price target for the company. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $137.30.

Shares of CASY traded down $1.85 during mid-day trading on Friday, hitting $131.74. 177,189 shares of the company’s stock were exchanged, compared to its average volume of 285,548. Casey’s General Stores has a twelve month low of $90.42 and a twelve month high of $138.45. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 34.58, a price-to-earnings-growth ratio of 2.44 and a beta of 0.45. The company has a quick ratio of 0.22, a current ratio of 0.76 and a debt-to-equity ratio of 0.93.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, March 11th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.18. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.20 billion. Casey’s General Stores had a net margin of 2.14% and a return on equity of 14.89%. As a group, research analysts predict that Casey’s General Stores will post 5.16 earnings per share for the current fiscal year.

In other news, VP William J. Walljasper sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $126.05, for a total value of $378,150.00. Following the sale, the vice president now directly owns 24,785 shares in the company, valued at $3,124,149.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Terry W. Handley sold 5,000 shares of Casey’s General Stores stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $130.05, for a total transaction of $650,250.00. Following the completion of the sale, the insider now owns 36,945 shares in the company, valued at $4,804,697.25. The disclosure for this sale can be found here. Insiders have sold a total of 20,500 shares of company stock valued at $2,602,775 in the last quarter. 0.72% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CASY. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Casey’s General Stores in the first quarter valued at approximately $70,795,000. Norges Bank acquired a new position in Casey’s General Stores during the fourth quarter worth $46,177,000. Thrivent Financial for Lutherans increased its holdings in Casey’s General Stores by 174.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 392,085 shares of the company’s stock worth $50,242,000 after buying an additional 249,286 shares during the last quarter. Dearborn Partners LLC acquired a new position in Casey’s General Stores during the fourth quarter worth $16,156,000. Finally, Stifel Financial Corp increased its holdings in shares of Casey’s General Stores by 2,823.7% in the fourth quarter. Stifel Financial Corp now owns 102,913 shares of the company’s stock valued at $13,258,000 after purchasing an additional 99,393 shares during the last quarter. Institutional investors own 89.95% of the company’s stock.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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