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

Key Points

• Casey's General Stores received an "overweight" rating from Stephens, with a price target of $530.00, suggesting a potential upside of 1.63%.
• The company reported earnings of $5.77 EPS for the latest quarter, exceeding expectations and showing an 11.5% increase in revenue year-over-year.
• Insider transactions included significant share sales, with one insider decreasing their stake by 29.52% and another by 75.86%, raising concerns about insider sentiment.

Casey's General Stores (NASDAQ:CASY - Get Free Report)'s stock had its "overweight" rating reissued by research analysts at Stephens in a research report issued on Tuesday,Benzinga reports. They currently have a $530.00 price objective on the stock. Stephens' price target indicates a potential upside of 1.63% from the company's current price.

A number of other equities analysts have also recently commented on CASY. Wall Street Zen upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Royal Bank Of Canada boosted their price target on Casey's General Stores from $468.00 to $542.00 and gave the stock a "sector perform" rating in a research report on Wednesday, July 9th. BMO Capital Markets upped their target price on Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday, June 11th. Wells Fargo & Company increased their price objective on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Finally, The Goldman Sachs Group increased their price objective on Casey's General Stores from $385.00 to $450.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Casey's General Stores presently has a consensus rating of "Moderate Buy" and an average target price of $470.67.

Casey's General Stores Trading Up 3.1%

Casey's General Stores stock opened at $521.50 on Tuesday. The stock has a market capitalization of $19.39 billion, a PE ratio of 35.62 and a beta of 0.66. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.92 and a quick ratio of 0.48. The business's fifty day moving average is $513.60 and its 200 day moving average is $469.20. Casey's General Stores has a one year low of $362.42 and a one year high of $531.24.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its 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 company had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a return on equity of 16.28% and a net margin of 3.43%.The firm's quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the company earned $4.83 EPS. On average, sell-side analysts predict that Casey's General Stores will post 13.94 EPS for the current year.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Chad Michael Frazell sold 4,808 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $503.97, for a total transaction of $2,423,087.76. Following the transaction, the insider owned 11,480 shares of the company's stock, valued at approximately $5,785,575.60. The trade was a 29.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 6,600 shares of Casey's General Stores stock in a transaction on Monday, June 16th. The shares were sold at an average price of $506.03, for a total value of $3,339,798.00. Following the completion of the sale, the insider owned 2,100 shares in the company, valued at $1,062,663. This represents a 75.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,646 shares of company stock valued at $22,136,614 in the last three months. 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 modified their holdings of the company. Valmark Advisers Inc. grew its stake in Casey's General Stores by 0.5% during the 2nd quarter. Valmark Advisers Inc. now owns 4,404 shares of the company's stock worth $2,247,000 after purchasing an additional 21 shares in the last quarter. Panagora Asset Management Inc. grew its stake in Casey's General Stores by 0.5% during the 2nd 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 in the last quarter. Flagship Harbor Advisors LLC grew its stake in Casey's General Stores by 4.1% during 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. Burns J W & Co. Inc. NY grew its stake in Casey's General Stores by 2.1% during the 1st quarter. Burns J W & Co. Inc. NY now owns 1,204 shares of the company's stock worth $522,000 after purchasing an additional 25 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Casey's General Stores by 1.4% during the 1st quarter. Sunbelt Securities Inc. now owns 1,870 shares of the company's stock worth $812,000 after acquiring an additional 26 shares in the last quarter. Hedge funds and other institutional investors own 85.63% of the company's stock.

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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