BMO Capital Markets Upgrades Casey’s General Stores (NASDAQ:CASY) to “Outperform”

Casey’s General Stores (NASDAQ:CASY) was upgraded by stock analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a research note issued on Monday,Benzinga reports. The brokerage currently has a $950.00 price target on the stock. BMO Capital Markets’ target price indicates a potential upside of 22.01% from the stock’s previous close.

A number of other analysts have also issued reports on CASY. Wolfe Research reiterated an “outperform” rating and set a $1,069.00 price target on shares of Casey’s General Stores in a research note on Thursday, June 11th. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Wells Fargo & Company upped their target price on shares of Casey’s General Stores from $910.00 to $960.00 and gave the stock an “overweight” rating in a research note on Thursday, June 11th. UBS Group increased their target price on shares of Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a research report on Monday, June 15th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $939.29.

Casey’s General Stores Price Performance

NASDAQ:CASY opened at $778.63 on Monday. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $818.34 and its two-hundred day moving average is $705.36. Casey’s General Stores has a 52 week low of $490.00 and a 52 week high of $927.85. The stock has a market capitalization of $28.82 billion, a price-to-earnings ratio of 40.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $4.37 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.33 billion. During the same period in the previous year, the firm posted $2.63 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. Research analysts anticipate that Casey’s General Stores will post 21.05 EPS for the current year.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently modified their holdings of CASY. Geode Capital Management LLC boosted its holdings in Casey’s General Stores by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock valued at $420,416,000 after purchasing an additional 52,250 shares in the last quarter. North Dakota State Investment Board acquired a new stake in Casey’s General Stores during the fourth quarter worth approximately $720,000. Burns J W & Co. Inc. NY lifted its position in shares of Casey’s General Stores by 103.5% during the 1st quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after buying an additional 1,245 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in shares of Casey’s General Stores in the 4th quarter valued at $1,338,000. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Casey’s General Stores by 2.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock valued at $77,651,000 after buying an additional 3,553 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

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.