Casey’s General Stores (NASDAQ:CASY) Now Covered by Analysts at KeyCorp

Equities researchers at KeyCorp started coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a note issued to investors on Friday,Benzinga reports. The firm set an “overweight” rating and a $500.00 price target on the stock. KeyCorp’s price target would suggest a potential upside of 14.15% from the company’s previous close.

CASY has been the topic of several other research reports. StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. BMO Capital Markets reiterated a “market perform” rating and issued a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a research report on Wednesday, December 18th. Evercore ISI increased their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 1st. Stephens upgraded Casey’s General Stores to a “strong-buy” rating in a research report on Monday. Finally, Gordon Haskett upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $438.01 on Friday. Casey’s General Stores has a 12-month low of $306.60 and a 12-month high of $458.92. The firm’s fifty day simple moving average is $417.71 and its two-hundred day simple moving average is $407.16. The company has a current ratio of 0.88, a quick ratio of 0.49 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $16.26 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.40 and a beta of 0.74.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. During the same period last year, the business earned $2.33 EPS. Casey’s General Stores’s revenue for the quarter was up 17.2% on a year-over-year basis. Analysts forecast that Casey’s General Stores will post 13.94 EPS for the current fiscal year.

Insider Transactions at Casey’s General Stores

In other news, Director Mike Spanos bought 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average price of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now directly owns 3,356 shares in the company, valued at $1,310,652.24. The trade was a 8.26 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katrina S. Lindsey sold 250 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $437.01, for a total transaction of $109,252.50. Following the transaction, the insider now owns 2,443 shares of the company’s stock, valued at $1,067,615.43. This trade represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds and other institutional investors have recently modified their holdings of CASY. XTX Topco Ltd acquired a new stake in Casey’s General Stores in the third quarter valued at $397,000. MML Investors Services LLC increased its holdings in shares of Casey’s General Stores by 14.3% in the 3rd quarter. MML Investors Services LLC now owns 4,176 shares of the company’s stock valued at $1,569,000 after acquiring an additional 522 shares during the last quarter. Barclays PLC raised its position in shares of Casey’s General Stores by 110.5% during the 3rd quarter. Barclays PLC now owns 22,487 shares of the company’s stock worth $8,450,000 after acquiring an additional 11,802 shares in the last quarter. Geode Capital Management LLC lifted its stake in Casey’s General Stores by 1.3% during the third quarter. Geode Capital Management LLC now owns 655,488 shares of the company’s stock worth $246,335,000 after purchasing an additional 8,428 shares during the last quarter. Finally, Coldstream Capital Management Inc. lifted its stake in Casey’s General Stores by 7.4% during the third quarter. Coldstream Capital Management Inc. now owns 1,061 shares of the company’s stock worth $401,000 after purchasing an additional 73 shares during the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.