Casey's General Stores (NASDAQ:CASY) Stock Price Expected to Rise, Evercore ISI Analyst Says

Key Points

• Evercore ISI raised the price target for Casey's General Stores from $560.00 to $580.00, indicating a potential upside of 7.15% from the current price, while maintaining an "outperform" rating.
• Recent quarterly earnings showed $5.77 EPS, surpassing estimates and marking an 11.5% revenue increase year-over-year, with a total revenue of $4.57 billion.
• Eight analysts currently rate the stock as a "Buy," contributing to an average rating of "Moderate Buy" with a consensus price target of $501.92.

Casey's General Stores (NASDAQ:CASY - Get Free Report) had its price target raised by investment analysts at Evercore ISI from $560.00 to $580.00 in a report released on Wednesday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Evercore ISI's target price indicates a potential upside of 7.15% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. KeyCorp boosted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. Stephens reiterated an "overweight" rating and issued a $530.00 price target on shares of Casey's General Stores in a research report on Tuesday. Jefferies Financial Group boosted their price target on shares of Casey's General Stores from $575.00 to $600.00 and gave the stock a "buy" rating in a research report on Tuesday. Wall Street Zen raised Casey's General Stores from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Royal Bank Of Canada lifted 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 note on Wednesday, July 9th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $501.92.

Casey's General Stores Stock Performance

Shares of CASY opened at $541.30 on Wednesday. Casey's General Stores has a 1 year low of $362.42 and a 1 year high of $543.20. The firm has a fifty day moving average of $514.22 and a 200-day moving average of $469.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.48 and a current ratio of 0.92. The company has a market cap of $20.13 billion, a price-to-earnings ratio of 34.74 and a beta of 0.66.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The company reported $5.77 EPS for the quarter, topping the consensus estimate of $5.02 by $0.75. Casey's General Stores had a net margin of 3.54% and a return on equity of 17.00%. The firm had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.47 billion. During the same period in the previous year, the business earned $4.83 earnings per share. Casey's General Stores's revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities analysts anticipate that Casey's General Stores will post 13.94 earnings per share for the current year.

Insider Activity at Casey's General Stores

In other Casey's General Stores news, insider Katrina S. Lindsey sold 2,000 shares of Casey's General Stores stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $506.07, for a total transaction of $1,012,140.00. Following the transaction, the insider owned 4,636 shares of the company's stock, valued at $2,346,140.52. The trade was a 30.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Stephen P. Bramlage, Jr. sold 8,478 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $509.21, for a total value of $4,317,082.38. Following the completion of the sale, the chief financial officer directly owned 26,754 shares of the company's stock, valued at approximately $13,623,404.34. The trade was a 24.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,646 shares of company stock worth $22,136,614. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

Several large investors have recently made changes to their positions in CASY. Versant Capital Management Inc bought a new stake in shares of Casey's General Stores in the 1st quarter valued at approximately $25,000. Global Financial Private Client LLC grew its stake in shares of 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 in the last quarter. Summit Securities Group LLC bought a new stake in shares of Casey's General Stores in the 1st quarter valued at approximately $32,000. Nvwm LLC bought a new stake in shares of Casey's General Stores in the 2nd quarter valued at approximately $32,000. Finally, Rossby Financial LCC grew its stake in shares of Casey's General Stores by 580.0% in the 2nd quarter. Rossby Financial LCC now owns 68 shares of the company's stock valued at $35,000 after buying an additional 58 shares in the last quarter. 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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