Casey's General Stores (NASDAQ:CASY) Raised to Buy at Wall Street Zen

Casey's General Stores (NASDAQ:CASY - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada set a $438.00 price objective on Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. KeyCorp increased their price objective on Casey's General Stores from $500.00 to $550.00 and gave the company an "overweight" rating in a report on Wednesday. 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. BMO Capital Markets raised their price target on Casey's General Stores from $450.00 to $515.00 and gave the stock a "market perform" rating in a report on Wednesday. Finally, The Goldman Sachs Group raised their price target on Casey's General Stores from $385.00 to $450.00 and gave the stock a "neutral" rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $453.00.

Casey's General Stores Stock Down 0.2%

Casey's General Stores stock opened at $506.16 on Friday. Casey's General Stores has a 1-year low of $350.52 and a 1-year high of $512.88. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49. The stock has a market cap of $18.79 billion, a PE ratio of 35.27, a P/E/G ratio of 2.40 and a beta of 0.65. The stock's fifty day moving average is $453.67 and its two-hundred day moving average is $426.36.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.69. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company had revenue of $3.99 billion for the quarter, compared to analysts' expectations of $3.95 billion. During the same period last year, the firm earned $2.34 earnings per share. Casey's General Stores's quarterly revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that Casey's General Stores will post 13.94 EPS for the current fiscal year.

Insider Transactions at Casey's General Stores

In related news, insider Katrina S. Lindsey sold 250 shares of the company's stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the sale, the insider now directly owns 2,443 shares of the company's stock, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allison M. Wing sold 1,000 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $502.16, for a total transaction of $502,160.00. Following the sale, the director now directly owns 3,058 shares of the company's stock, valued at approximately $1,535,605.28. This trade represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.56% of the company's stock.

Institutional Trading of Casey's General Stores

Institutional investors have recently added to or reduced their stakes in the business. Versant Capital Management Inc purchased a new position in Casey's General Stores in the 1st quarter valued at about $25,000. Global Financial Private Client LLC boosted its position in Casey's General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company's stock valued at $30,000 after buying an additional 52 shares during the last quarter. Summit Securities Group LLC purchased a new position in Casey's General Stores in the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC boosted its position in Casey's General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company's stock valued at $40,000 after buying an additional 26 shares during the last quarter. Finally, WPG Advisers LLC purchased a new position in Casey's General Stores in the 1st quarter valued at about $47,000. 85.63% of the stock is owned by hedge funds and other 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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