Casey's General Stores, Inc. (NASDAQ:CASY) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Casey's General Stores has received an average recommendation of "Moderate Buy" from analysts, with three holding recommendations and eight buy ratings.
• The average 12-month price target for the stock among analysts who updated their coverage is $536.10, reflecting recent upward adjustments from firms like Royal Bank of Canada and Jefferies Financial Group.
• Casey's reported a quarterly revenue increase of 11.5% year-over-year, with earnings per share of $5.77, surpassing the consensus estimate of $5.02.

Shares of Casey's General Stores, Inc. (NASDAQ:CASY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $536.10.

Several equities analysts have recently commented on the company. Royal Bank Of Canada boosted their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. Jefferies Financial Group boosted their price objective on Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research report on Tuesday, September 9th. Weiss Ratings restated a "buy (b)" rating on shares of Casey's General Stores in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on Casey's General Stores from $450.00 to $490.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 10th. Finally, Stephens reiterated an "overweight" rating and issued a $570.00 target price on shares of Casey's General Stores in a research report on Wednesday, October 8th.

Casey's General Stores Price Performance

NASDAQ CASY opened at $564.17 on Thursday. The company has a market capitalization of $20.98 billion, a PE ratio of 36.21 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03. The business's fifty day moving average is $532.26 and its 200 day moving average is $496.02. Casey's General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $572.18.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, September 8th. The company reported $5.77 earnings per share for the quarter, beating the consensus estimate of $5.02 by $0.75. Casey's General Stores had a return on equity of 16.73% and a net margin of 3.54%.The company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same period in the previous year, the business earned $4.83 earnings per share. Casey's General Stores's quarterly revenue was up 11.5% compared to the same quarter last year. Sell-side analysts predict that Casey's General Stores will post 13.94 earnings per share for the current year.

Casey's General Stores Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Shareholders of record on Saturday, November 1st will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, October 31st. Casey's General Stores's payout ratio is presently 14.63%.

Insiders Place Their Bets

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total transaction of $1,936,679.80. Following the sale, the insider directly owned 7,993 shares of the company's stock, valued at $4,439,312.20. The trade was a 30.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by insiders.

Institutional Investors Weigh In On Casey's General Stores

Several large investors have recently added to or reduced their stakes in the stock. Steph & Co. increased its stake in Casey's General Stores by 2.2% during the third 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. AdvisorNet Financial Inc grew its stake in shares of Casey's General Stores by 2.8% during the third quarter. AdvisorNet Financial Inc now owns 724 shares of the company's stock valued at $409,000 after buying an additional 20 shares during the last quarter. Valmark Advisers Inc. grew its stake in shares of Casey's General Stores by 0.5% during the second quarter. Valmark Advisers Inc. now owns 4,404 shares of the company's stock valued at $2,247,000 after buying an additional 21 shares during the last quarter. Panagora Asset Management Inc. grew its stake in shares of Casey's General Stores by 0.5% during the second quarter. Panagora Asset Management Inc. now owns 4,147 shares of the company's stock valued at $2,116,000 after buying an additional 21 shares during the last quarter. Finally, Flagship Harbor Advisors LLC grew its stake in shares of Casey's General Stores by 4.1% during the first quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock valued at $256,000 after buying an additional 23 shares during the last quarter. 85.63% of the stock is owned by institutional investors.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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