Casey's General Stores (NASDAQ:CASY) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Casey's General Stores from a "hold" to a strong-buy, while other firms have raised price targets and the analyst consensus remains a Moderate Buy with a $725.09 average target.
• CASY shares opened at $799.52 and are trading near a 12‑month high of $802.56, with a market cap of $29.55 billion and a trailing P/E of 45.9.
• In the latest quarter Casey's reported $3.49 EPS (above the $2.94 estimate) but revenue of $3.92B missed expectations; a director bought 300 shares and institutional ownership is 85.63%.

Casey's General Stores (NASDAQ:CASY - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research note issued on Thursday,Zacks.com reports.

CASY has been the subject of a number of other reports. Jefferies Financial Group lifted their price target on shares of Casey's General Stores from $700.00 to $780.00 and gave the stock a "buy" rating in a research note on Tuesday, March 10th. Evercore reaffirmed an "outperform" rating and set a $780.00 price target on shares of Casey's General Stores in a research note on Tuesday. Bank of America began coverage on shares of Casey's General Stores in a report on Friday, January 9th. They set a "buy" rating for the company. JPMorgan Chase & Co. began coverage on shares of Casey's General Stores in a report on Thursday, March 26th. They set a "neutral" rating and a $719.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on shares of Casey's General Stores from $725.00 to $745.00 and gave the company an "overweight" rating in a report on Tuesday, March 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Casey's General Stores presently has an average rating of "Moderate Buy" and a consensus target price of $725.09.

Casey's General Stores Price Performance

CASY stock opened at $799.52 on Thursday. Casey's General Stores has a 12 month low of $430.00 and a 12 month high of $802.56. The company has a current ratio of 1.04, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average price of $707.34 and a 200 day moving average price of $620.19. The stock has a market cap of $29.55 billion, a PE ratio of 45.90, a P/E/G ratio of 2.57 and a beta of 0.61.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last released its quarterly earnings results on Monday, March 9th. The company reported $3.49 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.55. Casey's General Stores had a net margin of 3.83% and a return on equity of 17.56%. The firm had revenue of $3.92 billion during the quarter, compared to analysts' expectations of $4.08 billion. During the same period in the previous year, the company earned $2.33 EPS. The firm's revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Casey's General Stores will post 18.1 earnings per share for the current year.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos purchased 300 shares of Casey's General Stores stock in a transaction dated Friday, March 13th. The stock was acquired at an average price of $665.43 per share, for a total transaction of $199,629.00. Following the acquisition, the director owned 4,499 shares in the company, valued at $2,993,769.57. This trade represents a 7.14% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katrina S. Lindsey sold 200 shares of the business's stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $683.04, for a total transaction of $136,608.00. Following the completion of the sale, the insider owned 4,039 shares of the company's stock, valued at approximately $2,758,798.56. This represents a 4.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.54% of the company's stock.

Institutional Investors Weigh In On Casey's General Stores

Several large investors have recently modified their holdings of CASY. Foster Dykema Cabot & Partners LLC bought a new stake in shares of Casey's General Stores in the 3rd quarter valued at about $25,000. Westside Investment Management Inc. raised its holdings in shares of Casey's General Stores by 100.0% in the 3rd 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 raised its holdings in shares of Casey's General Stores by 52.8% in the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company's stock valued at $30,000 after purchasing an additional 19 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Casey's General Stores by 350.0% in the 4th quarter. True Wealth Design LLC now owns 54 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Finally, Atlantic Union Bankshares Corp purchased a new position in shares of Casey's General Stores in the 3rd quarter worth approximately $33,000. Institutional investors own 85.63% of the company's stock.

About Casey's General Stores

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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