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

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

Several other analysts have also issued reports on CASY. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $662.00 target price on shares of Casey’s General Stores in a research note on Friday, January 23rd. Northcoast Research cut shares of Casey’s General Stores from a “buy” rating to a “neutral” rating in a report on Wednesday, January 21st. Bank of America started coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They issued a “buy” rating for the company. Evercore set a $665.00 target price on shares of Casey’s General Stores and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Wells Fargo & Company upped their target price on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and a consensus target price of $621.00.

Casey’s General Stores Stock Up 1.4%

CASY stock opened at $681.48 on Monday. The firm has a market capitalization of $25.26 billion, a PE ratio of 41.91, a P/E/G ratio of 2.37 and a beta of 0.68. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62. Casey’s General Stores has a twelve month low of $372.08 and a twelve month high of $684.61. The stock’s 50 day moving average is $613.65 and its 200-day moving average is $565.33.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.92 by $0.61. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate 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 revenue was up 14.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.85 earnings per share. Sell-side analysts expect that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Moats Maria Castanon purchased 300 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average price of $554.66 per share, with a total value of $166,398.00. Following the acquisition, the director owned 803 shares of the company’s stock, valued at $445,391.98. This trade represents a 59.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently bought and sold shares of the company. Menard Financial Group LLC raised its stake in shares of Casey’s General Stores by 1.2% in the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after buying an additional 15 shares during the period. Cibc World Market Inc. grew its stake in shares of Casey’s General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after acquiring an additional 16 shares during the period. Steph & Co. increased its holdings in Casey’s General Stores by 2.2% in the 3rd quarter. Steph & Co. now owns 819 shares of the company’s stock worth $463,000 after acquiring an additional 18 shares during the last quarter. LifeWealth Investments LLC raised its stake in Casey’s General Stores by 2.1% in the 3rd quarter. LifeWealth Investments LLC now owns 858 shares of the company’s stock valued at $485,000 after acquiring an additional 18 shares during the period. Finally, FSB Premier Wealth Management Inc. raised its stake in Casey’s General Stores by 0.8% in the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after acquiring an additional 18 shares during the period. 85.63% of the stock is owned by institutional investors.

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.