Casey's General Stores (NASDAQ:CASY) Price Target Raised to $450.00 at The Goldman Sachs Group

Casey's General Stores (NASDAQ:CASY - Get Free Report) had its price target lifted by equities researchers at The Goldman Sachs Group from $385.00 to $450.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential downside of 9.92% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Gordon Haskett upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Evercore ISI boosted their price target on shares of Casey's General Stores from $450.00 to $460.00 and gave the stock an "outperform" rating in a report on Tuesday, April 1st. KeyCorp increased their target price on Casey's General Stores from $500.00 to $550.00 and gave the stock an "overweight" rating in a research report on Wednesday. Wells Fargo & Company raised their price target on Casey's General Stores from $460.00 to $540.00 and gave the company an "overweight" rating in a research report on Wednesday. Finally, BMO Capital Markets upped their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and a consensus price target of $452.43.

Casey's General Stores Stock Up 1.9%

Shares of NASDAQ CASY traded up $9.33 during midday trading on Wednesday, reaching $499.53. 706,683 shares of the company's stock were exchanged, compared to its average volume of 306,244. Casey's General Stores has a 52-week low of $350.00 and a 52-week high of $509.08. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The stock has a market capitalization of $18.54 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. The business's fifty day moving average price is $450.09 and its two-hundred day moving average price is $425.25.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.69. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.95 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business's quarterly revenue was up 10.9% compared to the same quarter last year. During the same period last year, the company posted $2.34 EPS. Analysts forecast that Casey's General Stores will post 13.94 EPS for the current year.

Insider Transactions at Casey's General Stores

In other news, insider Katrina S. Lindsey sold 250 shares of Casey's General Stores stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the transaction, the insider now owns 2,443 shares in the company, valued at $1,067,615.43. This trade represents a 9.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mike Spanos acquired 256 shares of the business's stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares in the company, valued at approximately $1,310,652.24. This represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.56% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

A number of hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its stake in Casey's General Stores by 190.6% during the first quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after purchasing an additional 816,110 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Casey's General Stores during the fourth quarter worth approximately $236,500,000. GAMMA Investing LLC raised its holdings in Casey's General Stores by 54,448.8% in the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock valued at $236,054,000 after acquiring an additional 542,855 shares during the last quarter. Norges Bank acquired a new stake in shares of Casey's General Stores during the 4th quarter worth about $175,607,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Casey's General Stores by 42.0% in the first quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock worth $449,851,000 after acquiring an additional 306,628 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.