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

Key Points

• Casey's General Stores has received an "overweight" rating from Stephens, with a price target of $570.00, indicating a potential upside of 2.74% from its current price.
• The company recently reported quarterly earnings of $5.77 EPS, exceeding analysts' estimates, along with a revenue of $4.57 billion, which is an 11.5% increase year-over-year.
• Overall, Casey's stock has a consensus rating of "Moderate Buy" from eight analysts, with an average price target of $533.10.

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 Wednesday,Benzinga reports. They presently have a $570.00 price target on the stock. Stephens' price target suggests a potential upside of 2.74% from the company's current price.

A number of other research analysts also recently issued reports on CASY. Royal Bank Of Canada boosted their price objective on Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research note on Wednesday, July 9th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Casey's General Stores in a research note on Saturday, September 27th. Jefferies Financial Group upped their price target on Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research note on Tuesday, September 9th. Wells Fargo & Company upped their price target on Casey's General Stores from $540.00 to $580.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. Finally, Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Eight research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $533.10.

Casey's General Stores Stock Down 0.7%

Shares of NASDAQ:CASY opened at $554.78 on Wednesday. The company has a market capitalization of $20.63 billion, a price-to-earnings ratio of 35.61 and a beta of 0.68. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.03 and a quick ratio of 0.61. The business's 50-day moving average is $527.74 and its 200-day moving average is $490.89. Casey's General Stores has a 1 year low of $372.08 and a 1 year high of $571.57.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings data on Monday, September 8th. The company reported $5.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 16.73% and a net margin of 3.54%.The firm's revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned $4.83 EPS. Equities research analysts predict that Casey's General Stores will post 13.94 earnings per share for the current year.

Insider Activity

In other news, insider Chad Michael Frazell sold 3,487 shares of the company's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $555.40, for a total value of $1,936,679.80. Following the completion of the transaction, the insider directly owned 7,993 shares of the company's stock, valued at $4,439,312.20. This represents a 30.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Casey's General Stores

Institutional investors have recently modified their holdings of the business. Nvwm LLC bought a new position in shares of Casey's General Stores in the second quarter valued at approximately $32,000. Rossby Financial LCC raised its position in shares of Casey's General Stores by 580.0% in the second quarter. Rossby Financial LCC now owns 68 shares of the company's stock worth $35,000 after buying an additional 58 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Casey's General Stores during the first quarter valued at about $32,000. Caitong International Asset Management Co. Ltd purchased a new stake in Casey's General Stores in the second quarter worth about $42,000. Finally, Osterweis Capital Management Inc. purchased a new position in shares of Casey's General Stores during the second quarter valued at approximately $45,000. 85.63% of the stock is owned by institutional investors.

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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