Casey’s General Stores (NASDAQ:CASY) Stock Rating Lowered by Northcoast Research

Casey’s General Stores (NASDAQ:CASY) was downgraded by analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports.

CASY has been the subject of a number of other research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. BNP Paribas began coverage on shares of Casey’s General Stores in a research note on Tuesday. They set an “outperform” rating and a $730.00 price target for the company. Wells Fargo & Company lifted their target price on shares of Casey’s General Stores from $610.00 to $625.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Bank of America started coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $530.00 price target on shares of Casey’s General Stores in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $624.50.

Casey’s General Stores Stock Performance

Shares of CASY opened at $624.15 on Wednesday. Casey’s General Stores has a one year low of $372.08 and a one year high of $647.99. The company has a market capitalization of $23.14 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 2.26 and a beta of 0.67. The company’s fifty day moving average price is $568.15 and its 200 day moving average price is $543.45. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 EPS for the quarter, beating the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion for the quarter, compared to analyst estimates of $4.51 billion. Casey’s General Stores had a return on equity of 16.89% and a net margin of 3.58%.Casey’s General Stores’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.85 EPS. As a group, analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current year.

Insider Buying and Selling at Casey’s General Stores

In related news, Director Moats Maria Castanon acquired 300 shares of the stock in a transaction dated Monday, January 5th. The stock was bought at an average price of $554.66 per share, with a total value of $166,398.00. Following the completion of the transaction, the director directly owned 803 shares of the company’s stock, valued at approximately $445,391.98. The trade was 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. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC increased its holdings in shares of Casey’s General Stores by 6.4% during the 1st quarter. NewEdge Advisors LLC now owns 1,871 shares of the company’s stock worth $812,000 after acquiring an additional 113 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Casey’s General Stores by 129.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 186 shares of the company’s stock worth $81,000 after purchasing an additional 105 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Casey’s General Stores by 65.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 5,361 shares of the company’s stock worth $2,773,000 after purchasing an additional 2,124 shares during the period. Park Avenue Securities LLC acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at approximately $828,000. Finally, GAMMA Investing LLC increased its stake in shares of Casey’s General Stores by 20.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,510 shares of the company’s stock valued at $771,000 after purchasing an additional 257 shares during the last quarter. 85.63% of the stock is owned by institutional investors and hedge funds.

About Casey’s General Stores

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.