Casey’s General Stores (NASDAQ:CASY) Raised to Buy at Northcoast Research

Casey’s General Stores (NASDAQ:CASY) was upgraded by investment analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday. The brokerage presently has a $950.00 target price on the stock. Northcoast Research’s price objective indicates a potential upside of 15.88% from the stock’s current price.

CASY has been the topic of several other reports. Stephens set a $975.00 target price on Casey’s General Stores and gave the stock an “overweight” rating in a report on Friday, June 12th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $1,000.00 price target on shares of Casey’s General Stores in a report on Monday, June 15th. UBS Group upped their price objective on Casey’s General Stores from $805.00 to $945.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. William Blair initiated coverage on shares of Casey’s General Stores in a research note on Wednesday, May 20th. They set an “outperform” rating on the stock. Finally, Evercore reaffirmed an “outperform” rating and set a $990.00 target price on shares of Casey’s General Stores in a report on Friday, June 12th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $940.00.

Casey’s General Stores Stock Performance

NASDAQ CASY opened at $819.83 on Monday. The company has a market capitalization of $30.34 billion, a PE ratio of 42.79, a P/E/G ratio of 2.46 and a beta of 0.62. The company has a fifty day moving average of $823.60 and a 200 day moving average of $723.22. Casey’s General Stores has a 1 year low of $490.00 and a 1 year high of $927.85. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.01 and a quick ratio of 0.60.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, beating the consensus estimate of $3.31 by $1.06. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. Casey’s General Stores had a net margin of 4.07% and a return on equity of 18.73%. The firm’s revenue was up 14.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.63 earnings per share. Research analysts forecast that Casey’s General Stores will post 21.14 earnings per share for the current year.

Insider Transactions at Casey’s General Stores

In related news, CFO Stephen P. Bramlage, Jr. sold 5,700 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $838.16, for a total value of $4,777,512.00. Following the completion of the transaction, the chief financial officer owned 29,677 shares of the company’s stock, valued at approximately $24,874,074.32. This represents a 16.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 2,000 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $800.00, for a total value of $1,600,000.00. Following the transaction, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 30,243 shares of company stock worth $24,421,877 over the last quarter. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Central Pacific Bank Trust Division raised its position in Casey’s General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after acquiring an additional 19 shares during the period. True Wealth Design LLC lifted its stake in Casey’s General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. Whipplewood Advisors LLC acquired a new stake in Casey’s General Stores in the 1st quarter worth about $33,000. ORG Partners LLC boosted its holdings in Casey’s General Stores by 47.6% in the 4th quarter. ORG Partners LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 20 shares during the last quarter. Finally, Vermillion & White Wealth Management Group LLC purchased a new stake in Casey’s General Stores during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

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.