Casey’s General Stores, Inc. (NASDAQ:CASY) Given Consensus Recommendation of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY – Get Free Report) have received a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $407.64.

Several brokerages recently commented on CASY. Melius Research began coverage on Casey’s General Stores in a report on Monday, September 23rd. They set a “buy” rating and a $435.00 target price on the stock. Royal Bank of Canada upped their price objective on Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. StockNews.com lowered Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 3rd. Evercore ISI upped their price target on shares of Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th.

Get Our Latest Stock Report on CASY

Insider Buying and Selling

In other news, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the transaction, the insider now owns 9,044 shares in the company, valued at approximately $3,438,890.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Mike Spanos acquired 267 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the purchase, the director now owns 2,594 shares in the company, valued at $975,810.92. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction on Friday, September 6th. The shares were sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now directly owns 9,044 shares of the company’s stock, valued at $3,438,890.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

A number of hedge funds have recently modified their holdings of CASY. Rise Advisors LLC purchased a new stake in shares of Casey’s General Stores during the 1st quarter worth about $30,000. Park Place Capital Corp acquired a new stake in Casey’s General Stores in the second quarter valued at approximately $31,000. Advisors Asset Management Inc. bought a new stake in Casey’s General Stores in the first quarter worth approximately $32,000. Innealta Capital LLC acquired a new position in shares of Casey’s General Stores during the 2nd quarter worth $32,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Casey’s General Stores during the 4th quarter valued at $35,000. 85.63% of the stock is owned by institutional investors and hedge funds.

Casey’s General Stores Price Performance

Shares of CASY opened at $380.88 on Friday. Casey’s General Stores has a one year low of $260.13 and a one year high of $401.07. The stock’s fifty day moving average is $372.68 and its 200-day moving average is $354.24. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.44 and a current ratio of 0.84. The firm has a market capitalization of $14.13 billion, a price-to-earnings ratio of 28.36 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last released its earnings results on Wednesday, September 4th. The company reported $4.83 EPS for the quarter, beating the consensus estimate of $4.54 by $0.29. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. Casey’s General Stores’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $4.52 EPS. Equities analysts anticipate that Casey’s General Stores will post 14.01 EPS for the current year.

Casey’s General Stores Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 1st will be given a $0.50 dividend. The ex-dividend date is Friday, November 1st. This represents a $2.00 annualized dividend and a dividend yield of 0.53%. Casey’s General Stores’s dividend payout ratio (DPR) is presently 14.89%.

Casey’s General Stores Company Profile

(Get Free Report

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.

Recommended Stories