Casey's General Stores (NASDAQ:CASY) Earns Buy (B) Rating from Weiss Ratings

Key Points

• Casey’s General Stores received a "buy (B)" rating from Weiss Ratings, reflecting positive investor sentiment towards the stock.
• Research firms have issued price targets for the stock, with estimates ranging from $570.00 to $600.00, indicating a generally optimistic outlook among analysts.
• In the most recent quarter, Casey's reported an EPS of $5.77, exceeding expectations and showcasing a revenue increase of 11.5% year-over-year.

Casey's General Stores (NASDAQ:CASY - Get Free Report)'s stock had its "buy (b)" rating restated by research analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

CASY has been the subject of several other research reports. Stephens reissued an "overweight" rating and issued a $570.00 price target on shares of Casey's General Stores in a research note on Wednesday. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. KeyCorp raised their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Wells Fargo & Company boosted their price target on shares of Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Finally, Jefferies Financial Group upped their price objective on shares of Casey's General Stores from $575.00 to $600.00 and gave the company a "buy" rating in a research note on Tuesday, September 9th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.10.

Casey's General Stores Trading Down 0.2%

Shares of Casey's General Stores stock traded down $1.04 on Wednesday, hitting $553.74. The stock had a trading volume of 248,454 shares, compared to its average volume of 353,662. The stock has a 50 day moving average of $527.74 and a 200 day moving average of $490.89. The firm has a market capitalization of $20.59 billion, a P/E ratio of 35.54 and a beta of 0.68. Casey's General Stores has a twelve month low of $372.08 and a twelve month high of $571.57. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.61 and a current ratio of 1.03.

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

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 3,487 shares of the firm's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the sale, the insider directly owned 7,993 shares in the company, valued at approximately $4,439,312.20. This trade represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Institutional Trading of Casey's General Stores

Several large investors have recently made changes to their positions in CASY. Steph & Co. boosted its holdings in Casey's General Stores by 2.2% in the third quarter. Steph & Co. now owns 819 shares of the company's stock worth $463,000 after acquiring an additional 18 shares in the last quarter. Valmark Advisers Inc. increased its holdings 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 acquiring an additional 21 shares in the last quarter. Panagora Asset Management Inc. raised its position 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 worth $2,116,000 after purchasing an additional 21 shares during the period. Flagship Harbor Advisors LLC lifted its holdings in shares of Casey's General Stores by 4.1% in the 1st quarter. Flagship Harbor Advisors LLC now owns 590 shares of the company's stock worth $256,000 after purchasing an additional 23 shares in the last quarter. Finally, Accel Wealth Management lifted its holdings in shares of Casey's General Stores by 3.0% in the 3rd quarter. Accel Wealth Management now owns 865 shares of the company's stock worth $489,000 after purchasing an additional 25 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

About Casey's General Stores

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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