Casey’s General Stores (NASDAQ:CASY) Upgraded to “Strong-Buy” at KeyCorp

Casey’s General Stores (NASDAQ:CASY) was upgraded by KeyCorp to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. BMO Capital Markets restated a “market perform” rating and set a $450.00 price target (up previously from $400.00) on shares of Casey’s General Stores in a research note on Wednesday, December 18th. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Stephens upgraded shares of Casey’s General Stores to a “strong-buy” rating in a research note on Monday, April 7th. StockNews.com lowered shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Casey’s General Stores has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Casey’s General Stores Price Performance

CASY stock opened at $457.25 on Thursday. The business has a 50 day moving average price of $418.43 and a 200 day moving average price of $407.75. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 31.86, a PEG ratio of 2.40 and a beta of 0.74. Casey’s General Stores has a fifty-two week low of $306.60 and a fifty-two week high of $459.46.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.74 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. Casey’s General Stores’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.33 earnings per share. Equities research analysts anticipate that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mike Spanos acquired 256 shares of Casey’s General Stores stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the acquisition, the director now owns 3,356 shares in the company, valued at $1,310,652.24. This trade represents a 8.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $437.01, for a total value of $109,252.50. Following the completion of the transaction, the insider now owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This represents a 9.28 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.56% of the company’s stock.

Institutional Trading of Casey’s General Stores

Several institutional investors and hedge funds have recently modified their holdings of the business. City State Bank raised its holdings in shares of Casey’s General Stores by 4.7% in the first quarter. City State Bank now owns 1,898 shares of the company’s stock worth $824,000 after acquiring an additional 85 shares during the last quarter. Impact Capital Partners LLC acquired a new position in Casey’s General Stores in the 1st quarter valued at about $202,000. Financial Management Professionals Inc. lifted its holdings in Casey’s General Stores by 7,966.7% in the 1st quarter. Financial Management Professionals Inc. now owns 242 shares of the company’s stock valued at $105,000 after purchasing an additional 239 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in shares of Casey’s General Stores during the 1st quarter worth about $282,000. Finally, Orser Capital Management LLC boosted its stake in shares of Casey’s General Stores by 13.3% during the 1st quarter. Orser Capital Management LLC now owns 2,040 shares of the company’s stock worth $885,000 after purchasing an additional 240 shares during the last quarter. Hedge funds and other 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.