Casey’s General Stores (NASDAQ:CASY) Rating Increased to Strong-Buy at BidaskClub

Casey’s General Stores (NASDAQ:CASY) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on CASY. Gabelli cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. BMO Capital Markets raised their price objective on shares of Casey’s General Stores to $140.00 and gave the company a “market perform” rating in a research report on Wednesday, June 12th. Jefferies Financial Group raised their price objective on shares of Casey’s General Stores from $167.00 to $183.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. They noted that the move was a valuation call. Sidoti set a $147.00 price objective on shares of Casey’s General Stores and gave the company a “hold” rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $151.90.

CASY opened at $170.02 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.23 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $6.14 billion, a PE ratio of 30.86, a PEG ratio of 3.21 and a beta of 0.58. Casey’s General Stores has a 1-year low of $112.16 and a 1-year high of $171.13. The firm has a 50-day moving average price of $161.74 and a two-hundred day moving average price of $140.93.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, June 10th. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.27. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Casey’s General Stores had a net margin of 2.18% and a return on equity of 14.95%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.51 EPS. On average, research analysts predict that Casey’s General Stores will post 5.89 EPS for the current year.

In other news, SVP Julia L. Jackowski sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $149.49, for a total value of $2,989,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brian Joseph Johnson sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $156.48, for a total transaction of $625,920.00. Following the completion of the transaction, the senior vice president now directly owns 14,817 shares in the company, valued at approximately $2,318,564.16. The disclosure for this sale can be found here. Insiders sold a total of 35,106 shares of company stock worth $5,292,595 in the last ninety days. Insiders own 0.41% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Casey’s General Stores by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,732,899 shares of the company’s stock valued at $582,295,000 after purchasing an additional 76,321 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Casey’s General Stores by 2.0% in the 2nd quarter. BlackRock Inc. now owns 3,289,827 shares of the company’s stock valued at $513,180,000 after purchasing an additional 65,801 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Casey’s General Stores by 2.0% in the 1st quarter. Clearbridge Investments LLC now owns 1,425,212 shares of the company’s stock valued at $183,525,000 after purchasing an additional 28,550 shares during the last quarter. Carillon Tower Advisers Inc. boosted its stake in shares of Casey’s General Stores by 29.1% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 830,521 shares of the company’s stock valued at $129,553,000 after purchasing an additional 187,330 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new position in shares of Casey’s General Stores in the 1st quarter valued at about $70,795,000. 89.66% of the stock is currently owned by institutional investors.

About Casey’s General Stores

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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