Casey’s General Stores, Inc. (NASDAQ:CASY) Receives $408.25 Consensus Price Target from Brokerages

Shares of Casey’s General Stores, Inc. (NASDAQ:CASY) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $408.25.

A number of brokerages have issued reports on CASY. Wells Fargo & Company boosted their price target on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Benchmark reissued a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a research note on Tuesday, September 10th. Melius Research started coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target for the company. Finally, Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They set a “hold” rating and a $400.00 price objective on the stock.

Casey’s General Stores Price Performance

Shares of CASY opened at $420.89 on Monday. Casey’s General Stores has a 12 month low of $266.56 and a 12 month high of $435.60. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.84 and a quick ratio of 0.44. The stock has a fifty day moving average price of $394.36 and a 200 day moving average price of $375.06. The company has a market cap of $15.62 billion, a P/E ratio of 30.63 and a beta of 0.79.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings data on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping analysts’ consensus estimates of $4.54 by $0.29. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.15 billion. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $4.52 EPS. On average, research analysts forecast that Casey’s General Stores will post 14.22 earnings per share for the current year.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, insider Thomas P. Brennan, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $380.24, for a total value of $1,140,720.00. Following the completion of the transaction, the insider now directly owns 9,044 shares in the company, valued at $3,438,890.56. This trade represents a 24.91 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Darren M. Rebelez sold 13,500 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares in the company, valued at approximately $27,655,284.52. This trade represents a 15.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.56% of the stock is owned by insiders.

Hedge Funds Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. lifted its holdings in shares of Casey’s General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock valued at $204,861,000 after purchasing an additional 174,586 shares in the last quarter. Synovus Financial Corp raised its position in Casey’s General Stores by 74.4% during the third quarter. Synovus Financial Corp now owns 16,595 shares of the company’s stock valued at $6,235,000 after buying an additional 7,078 shares during the period. Sanctuary Advisors LLC lifted its stake in Casey’s General Stores by 10.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,514 shares of the company’s stock worth $2,072,000 after acquiring an additional 523 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Casey’s General Stores by 6.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,960 shares of the company’s stock worth $736,000 after acquiring an additional 111 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Casey’s General Stores by 7.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,061 shares of the company’s stock valued at $401,000 after acquiring an additional 73 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.