Casey's General Stores (NASDAQ:CASY) Earns "Overweight" Rating from Stephens

Key Points

• Stephens reaffirmed its “overweight” rating on Casey’s General Stores and set a $975 price target, implying approximately 32.9% upside from the stock’s current price.
• Casey’s reported quarterly EPS of $7.37, exceeding the $6.78 consensus estimate, while revenue rose 24.3% year over year to $5.68 billion and also surpassed expectations.
• Despite the earnings beat, same-store sales growth slowed to 3.2%, and the stock’s elevated valuation—about 38 times earnings—has contributed to investor caution. Analysts maintain a “Moderate Buy” consensus with an average price target of $928.53.

Casey's General Stores (NASDAQ:CASY - Get Free Report)'s stock had its "overweight" rating restated by equities research analysts at Stephens in a research report issued on Wednesday, Benzinga reports. They currently have a $975.00 target price on the stock. Stephens' price target suggests a potential upside of 32.93% from the stock's current price.

Several other research firms have also issued reports on CASY. Weiss Ratings lowered shares of Casey's General Stores from a "buy (b+)" rating to a "buy (b)" rating in a research report on Tuesday, July 21st. UBS Group cut their price objective on Casey's General Stores from $945.00 to $925.00 and set a "neutral" rating for the company in a research report on Thursday, August 27th. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Deutsche Bank Aktiengesellschaft set a $927.00 target price on Casey's General Stores in a report on Friday. Finally, JPMorgan Chase & Co. cut their target price on Casey's General Stores from $975.00 to $833.00 and set a "neutral" rating on the stock in a research report on Thursday, September 3rd. Fourteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $928.53.

Casey's General Stores Stock Performance

NASDAQ:CASY opened at $733.49 on Wednesday. Casey's General Stores has a twelve month low of $497.38 and a twelve month high of $927.85. The company has a current ratio of 1.01, a quick ratio of 0.60 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $825.39 and a 200-day moving average of $786.82. The firm has a market cap of $27.14 billion, a price-to-earnings ratio of 38.28, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Tuesday, September 8th. The company reported $7.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.78 by $0.59. Casey's General Stores had a net margin of 4.07% and a return on equity of 18.73%. The company had revenue of $5.68 billion for the quarter, compared to analysts' expectations of $5.56 billion. During the same quarter in the previous year, the company posted $5.77 EPS. The business's revenue was up 24.3% compared to the same quarter last year. Analysts forecast that Casey's General Stores will post 21.13 earnings per share for the current fiscal year.

Insider Activity at Casey's General Stores

In other news, insider Katrina Lindsey sold 2,000 shares of the stock in a transaction 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 completion of the sale, the insider owned 6,668 shares in the company, valued at $5,334,400. This represents a 23.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Darren Rebelez sold 19,000 shares of Casey's General Stores stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $801.46, for a total value of $15,227,740.00. Following the transaction, the chief executive officer owned 89,174 shares in the company, valued at $71,469,394.04. This represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 30,243 shares of company stock worth $24,421,877. Insiders own 0.67% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

A number of institutional investors have recently modified their holdings of the stock. Fiduciary Financial Advisors acquired a new position in shares of Casey's General Stores in the second quarter worth $26,000. Whipplewood Advisors LLC purchased a new stake in shares of Casey's General Stores during the 1st quarter worth about $33,000. Bell Investment Advisors Inc purchased a new stake in shares of Casey's General Stores during the 2nd quarter worth about $33,000. Caitlin John LLC acquired a new stake in shares of Casey's General Stores during the 2nd quarter valued at about $35,000. Finally, Larson Financial Group LLC grew its stake in shares of Casey's General Stores by 252.4% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the company's stock valued at $41,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Key Casey's General Stores News

Here are the key news stories impacting Casey's General Stores this week:

• Positive Sentiment: Casey’s reported diluted earnings of $7.37 per share, up 27.7% year over year and above analysts’ $6.78 consensus. Revenue increased 24.3% to approximately $5.68 billion, also exceeding expectations. Net income rose 27.1% to $273.7 million, while EBITDA climbed 17.1% to $485.1 million. Casey’s Announces First Quarter Results
• Positive Sentiment: Fuel margins were a major contributor to the quarter’s performance, helping Casey’s surpass Wall Street forecasts. The company also has a record of earnings surprises, which may support the longer-term outlook. Casey’s beats Q1 estimates on fuel margin surge
• Positive Sentiment: The company declared a quarterly dividend of $0.65 per share, payable November 13 to shareholders of record November 1. The annualized yield is modest at roughly 0.4%, but the payout adds to shareholder returns. Casey’s dividend announcement
• Neutral Sentiment: Analysts and market coverage characterized the results as a good quarter that faced unusually high investor expectations, making the earnings beat insufficient to drive the shares higher. Casey’s Q1: Good Quarter, Tough Expectations
• Negative Sentiment: Inside same-store sales increased 3.2%, but growth slowed from the prior year. The deceleration raises concerns about underlying consumer demand and whether Casey’s can sustain its growth rate. Casey’s Same-Store Sales Growth Declines
• Negative Sentiment: With a market capitalization near $27 billion and a price-to-earnings ratio above 38, Casey’s is valued for substantial continued growth. The weaker same-store sales trend and post-earnings profit-taking appear to be outweighing the quarterly beat. Casey’s Earnings Beat Estimates: Why the Stock Is Falling

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.

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