BMO Capital Markets Reiterates “Market Perform” Rating for Casey’s General Stores (NASDAQ:CASY)

Casey’s General Stores (NASDAQ:CASY)‘s stock had its “market perform” rating reaffirmed by equities research analysts at BMO Capital Markets in a report issued on Wednesday,Benzinga reports. They presently have a $450.00 price target on the stock, up from their previous price target of $400.00. BMO Capital Markets’ target price would indicate a potential upside of 6.79% from the company’s previous close.

Several other research firms have also commented on CASY. Royal Bank of Canada boosted their price objective on shares of Casey’s General Stores from $403.00 to $428.00 and gave the stock a “sector perform” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded Casey’s General Stores from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $300.00 to $337.00 in a research report on Thursday, September 19th. Gordon Haskett assumed coverage on Casey’s General Stores in a report on Monday, November 4th. They set a “hold” rating and a $400.00 target price on the stock. Finally, Melius Research assumed coverage on Casey’s General Stores in a research report on Monday, September 23rd. They set a “buy” rating and a $435.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Price Performance

Casey’s General Stores stock opened at $421.39 on Wednesday. The company has a market cap of $15.64 billion, a P/E ratio of 29.37 and a beta of 0.80. Casey’s General Stores has a one year low of $268.07 and a one year high of $439.68. The business has a fifty day moving average of $406.89 and a two-hundred day moving average of $383.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.44 and a current ratio of 0.88.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping the consensus estimate of $4.29 by $0.56. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the previous year, the company earned $4.24 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, analysts predict that Casey’s General Stores will post 14.28 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $427.13, for a total value of $192,208.50. Following the transaction, the insider now owns 2,247 shares in the company, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Large investors have recently made changes to their positions in the business. Innealta Capital LLC acquired a new stake in Casey’s General Stores in the 2nd quarter valued at $32,000. Venturi Wealth Management LLC grew its stake in shares of Casey’s General Stores by 941.7% in the third quarter. Venturi Wealth Management LLC now owns 125 shares of the company’s stock valued at $47,000 after buying an additional 113 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of Casey’s General Stores by 22.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 158 shares of the company’s stock valued at $59,000 after buying an additional 29 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Casey’s General Stores during the 2nd quarter worth approximately $68,000. Finally, Quarry LP acquired a new position in Casey’s General Stores during the 2nd quarter worth approximately $72,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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. 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.