Casey's General Stores (NASDAQ:CASY) Price Target Raised to $830.00

Key Points

• KeyCorp raised its target price on Casey's to $830 (from $730) and kept an overweight rating, implying roughly a 9.97% upside from the prior close.
• Analyst views are mixed—eight Buys and seven Holds—resulting in an average target of $711.91 and a consensus of "Moderate Buy."
• Casey's beat EPS expectations ($3.49 vs. $2.94) but missed revenue ($3.92B vs. $4.08B); the stock trades around $754.72 with a market cap of $27.9B and a P/E of 43.32.

Casey's General Stores (NASDAQ:CASY - Get Free Report) had its target price raised by research analysts at KeyCorp from $730.00 to $830.00 in a research note issued on Monday, MarketBeat.com reports. The firm presently has an "overweight" rating on the stock. KeyCorp's target price would indicate a potential upside of 9.97% from the stock's previous close.

Several other research firms have also recently commented on CASY. Zacks Research cut Casey's General Stores from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 23rd. Evercore set a $665.00 price objective on Casey's General Stores and gave the company an "outperform" rating in a research note on Tuesday, February 24th. BMO Capital Markets reissued a "market perform" rating and issued a $700.00 price objective on shares of Casey's General Stores in a research note on Wednesday, March 4th. Wells Fargo & Company raised their price objective on Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a research note on Tuesday, March 10th. Finally, Stephens reissued an "overweight" rating and issued a $680.00 price objective on shares of Casey's General Stores in a research note on Tuesday, March 10th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Casey's General Stores has an average rating of "Moderate Buy" and an average target price of $711.91.

Casey's General Stores Stock Performance

NASDAQ CASY opened at $754.72 on Monday. The business has a 50 day simple moving average of $694.71 and a 200 day simple moving average of $613.19. Casey's General Stores has a one year low of $430.00 and a one year high of $774.23. The stock has a market capitalization of $27.89 billion, a P/E ratio of 43.32, a P/E/G ratio of 2.46 and a beta of 0.61. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.04 and a quick ratio of 0.64.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping the consensus estimate of $2.94 by $0.55. Casey's General Stores had a return on equity of 17.56% and a net margin of 3.83%.The business had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same quarter last year, the firm posted $2.33 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Research analysts expect that Casey's General Stores will post 13.94 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mike Spanos purchased 300 shares of Casey's General Stores stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $665.43 per share, for a total transaction of $199,629.00. Following the completion of the transaction, the director owned 4,499 shares in the company, valued at $2,993,769.57. This trade represents a 7.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katrina S. Lindsey sold 200 shares of Casey's General Stores stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total value of $136,608.00. Following the completion of the transaction, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. This trade represents a 4.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On Casey's General Stores

Several hedge funds have recently made changes to their positions in CASY. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Casey's General Stores in the third quarter valued at $25,000. Westside Investment Management Inc. grew its position in shares of Casey's General Stores by 100.0% in the third quarter. Westside Investment Management Inc. now owns 46 shares of the company's stock valued at $26,000 after purchasing an additional 23 shares in the last quarter. Central Pacific Bank Trust Division grew its position in Casey's General Stores by 52.8% during the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock worth $30,000 after buying an additional 19 shares in the last quarter. True Wealth Design LLC grew its position in Casey's General Stores by 350.0% during the fourth quarter. True Wealth Design LLC now owns 54 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in Casey's General Stores during the third quarter worth about $33,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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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