Casey's General Stores (NASDAQ:CASY) Price Target Raised to $600.00

Key Points

• Jefferies Financial Group raised its price target for Casey's General Stores from $575.00 to $600.00, indicating a potential upside of 10.84% and maintaining a "buy" rating.
• The company's stock traded up 3.8%, reaching $541.30, with a market capitalization of $20.13 billion and a price-to-earnings ratio of 36.97.
• Casey's General Stores reported earnings of $5.77 per share for the latest quarter, exceeding analysts' expectations of $5.02, with revenue increasing 11.5% year-over-year.

Casey's General Stores (NASDAQ:CASY - Get Free Report) had its price target boosted by equities researchers at Jefferies Financial Group from $575.00 to $600.00 in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Jefferies Financial Group's price objective would indicate a potential upside of 8.32% from the stock's current price.

Several other research firms also recently weighed in on CASY. KeyCorp lifted their price target on shares of Casey's General Stores from $550.00 to $575.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. Stephens restated an "overweight" rating and set a $530.00 target price on shares of Casey's General Stores in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of Casey's General Stores from $468.00 to $542.00 and gave the company a "sector perform" rating in a research report on Wednesday, July 9th. BMO Capital Markets boosted their target price on shares of Casey's General Stores from $450.00 to $515.00 and gave the company a "market perform" rating in a research report on Wednesday, June 11th. Finally, Wall Street Zen upgraded shares of Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Eight research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $505.25.

Casey's General Stores Trading Down 0.0%

NASDAQ CASY traded down $0.10 during trading on Tuesday, hitting $553.89. The stock had a trading volume of 315,102 shares, compared to its average volume of 359,081. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.48 and a current ratio of 1.03. The stock has a market capitalization of $20.59 billion, a price-to-earnings ratio of 35.55 and a beta of 0.66. Casey's General Stores has a one year low of $362.42 and a one year high of $559.37. The stock has a 50 day simple moving average of $516.25 and a 200 day simple moving average of $472.05.

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, topping the consensus estimate of $5.02 by $0.75. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.47 billion. Casey's General Stores had a net margin of 3.54% and a return on equity of 16.73%. The firm's quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.83 earnings per share. Sell-side analysts predict 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, CFO Stephen P. Bramlage, Jr. sold 760 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $507.56, for a total transaction of $385,745.60. Following the sale, the chief financial officer directly owned 25,994 shares in the company, valued at $13,193,514.64. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Darren M. Rebelez sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $507.83, for a total transaction of $10,156,600.00. Following the sale, the chief executive officer owned 89,840 shares in the company, valued at approximately $45,623,447.20. This trade represents a 18.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,646 shares of company stock worth $21,634,454 over the last 90 days. 0.54% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP grew its position in shares of Casey's General Stores by 190.6% in the 1st quarter. Wellington Management Group LLP now owns 1,244,311 shares of the company's stock valued at $540,081,000 after buying an additional 816,110 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Casey's General Stores by 42.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,036,426 shares of the company's stock valued at $449,851,000 after buying an additional 306,628 shares during the last quarter. Franklin Resources Inc. grew its position in Casey's General Stores by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company's stock worth $361,727,000 after purchasing an additional 2,467 shares during the last quarter. Raymond James Financial Inc. grew its position in Casey's General Stores by 8.9% during the 1st quarter. Raymond James Financial Inc. now owns 649,815 shares of the company's stock worth $282,045,000 after purchasing an additional 52,939 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Casey's General Stores by 54,448.8% during the 1st quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares during the last quarter. 85.63% of the stock is owned by hedge funds and other 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.