BidaskClub Lowers Casey’s General Stores (CASY) to Buy

BidaskClub downgraded shares of Casey’s General Stores (NASDAQ:CASY) from a strong-buy rating to a buy rating in a research note published on Wednesday morning.

A number of other research analysts have also recently weighed in on the stock. Royal Bank of Canada set a $130.00 price objective on shares of Casey’s General Stores and gave the stock a hold rating in a research note on Wednesday, September 12th. ValuEngine raised shares of Casey’s General Stores from a hold rating to a buy rating in a research note on Wednesday, August 22nd. BMO Capital Markets raised their price objective on shares of Casey’s General Stores from $92.00 to $96.00 and gave the stock a hold rating in a research note on Thursday, August 23rd. Jefferies Financial Group set a $134.00 price objective on shares of Casey’s General Stores and gave the stock a buy rating in a research note on Wednesday, August 22nd. Finally, Wells Fargo & Co raised their price objective on shares of Casey’s General Stores from $97.00 to $120.00 and gave the stock a market perform rating in a research note on Wednesday, September 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $133.89.

Shares of CASY opened at $129.47 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.77 and a quick ratio of 0.27. Casey’s General Stores has a 1-year low of $90.42 and a 1-year high of $133.07. The company has a market cap of $4.77 billion, a PE ratio of 33.98, a price-to-earnings-growth ratio of 3.28 and a beta of 0.51.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 10th. The company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.23. Casey’s General Stores had a net margin of 3.73% and a return on equity of 12.38%. The business had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.57 billion. During the same period last year, the company posted $1.46 EPS. The company’s revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts expect that Casey’s General Stores will post 4.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 1st were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 31st. This represents a $1.16 dividend on an annualized basis and a yield of 0.90%. Casey’s General Stores’s dividend payout ratio (DPR) is currently 30.45%.

In related news, SVP Brian Joseph Johnson sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $127.43, for a total transaction of $191,145.00. Following the sale, the senior vice president now owns 10,471 shares in the company, valued at $1,334,319.53. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Kwmg LLC acquired a new stake in Casey’s General Stores during the second quarter worth approximately $106,000. Parallel Advisors LLC acquired a new stake in Casey’s General Stores during the third quarter worth approximately $139,000. Ibex Investors LLC acquired a new stake in Casey’s General Stores during the third quarter worth approximately $206,000. Northwest Wealth Management LLC boosted its position in Casey’s General Stores by 43.5% during the third quarter. Northwest Wealth Management LLC now owns 1,650 shares of the company’s stock worth $213,000 after acquiring an additional 500 shares during the last quarter. Finally, MML Investors Services LLC acquired a new stake in Casey’s General Stores during the third quarter worth approximately $215,000. Hedge funds and other institutional investors own 95.66% 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. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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