Casey’s General Stores (NASDAQ:CASY) Upgraded by Zacks Research to “Strong-Buy” Rating

Casey’s General Stores (NASDAQ:CASY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

A number of other research firms also recently weighed in on CASY. Weiss Ratings restated a “buy (b)” rating on shares of Casey’s General Stores in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on Casey’s General Stores from $450.00 to $490.00 and gave the company a “neutral” rating in a research note on Wednesday, September 10th. KeyCorp upped their target price on Casey’s General Stores from $550.00 to $575.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Jefferies Financial Group upped their target price on Casey’s General Stores from $575.00 to $600.00 and gave the stock a “buy” rating in a research note on Tuesday, September 9th. Finally, Wells Fargo & Company started coverage on Casey’s General Stores in a research note on Wednesday. They set an “overweight” rating and a $610.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.10.

Casey’s General Stores Stock Down 0.5%

Shares of Casey’s General Stores stock opened at $561.33 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 1.03 and a debt-to-equity ratio of 0.65. Casey’s General Stores has a 12 month low of $372.08 and a 12 month high of $572.18. The business has a fifty day simple moving average of $533.12 and a 200 day simple moving average of $496.90. The stock has a market cap of $20.87 billion, a PE ratio of 36.03 and a beta of 0.68.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, topping the consensus estimate of $5.02 by $0.75. The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.47 billion. Casey’s General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.83 earnings per share. Research analysts predict that Casey’s General Stores will post 13.94 EPS for the current year.

Insiders Place Their Bets

In related news, insider Chad Michael Frazell sold 3,487 shares of the firm’s stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the transaction, the insider owned 7,993 shares of the company’s stock, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Casey’s General Stores by 25.7% during the 1st quarter. GAMMA Investing LLC now owns 1,253 shares of the company’s stock worth $544,000 after acquiring an additional 256 shares during the last quarter. SG Americas Securities LLC lifted its stake in Casey’s General Stores by 478.2% in the first quarter. SG Americas Securities LLC now owns 1,937 shares of the company’s stock worth $841,000 after purchasing an additional 1,602 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Casey’s General Stores by 12.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,237 shares of the company’s stock worth $1,405,000 after purchasing an additional 362 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of Casey’s General Stores during the first quarter valued at about $202,000. Finally, QRG Capital Management Inc. raised its stake in shares of Casey’s General Stores by 10.8% during the first quarter. QRG Capital Management Inc. now owns 1,028 shares of the company’s stock valued at $446,000 after acquiring an additional 100 shares during the last quarter. 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 engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.