Barclays Raises Casey’s General Stores (CASY) Price Target to $123.00

Casey’s General Stores (NASDAQ:CASY) had its price objective boosted by Barclays from $107.00 to $123.00 in a report issued on Wednesday. Barclays currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on the stock. Royal Bank of Canada set a $130.00 price target on shares of Casey’s General Stores and gave the stock a hold rating in a research report on Wednesday, September 12th. ValuEngine raised shares of Casey’s General Stores from a hold rating to a buy rating in a research report on Wednesday, August 22nd. BMO Capital Markets raised their price target on shares of Casey’s General Stores from $92.00 to $96.00 and gave the stock a hold rating in a research report on Thursday, August 23rd. Jefferies Financial Group set a $134.00 price target on shares of Casey’s General Stores and gave the stock a buy rating in a research report on Wednesday, August 22nd. Finally, Wells Fargo & Co raised their price target on shares of Casey’s General Stores from $97.00 to $120.00 and gave the stock a market perform rating in a research report on Wednesday, September 12th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $135.09.

NASDAQ:CASY opened at $134.31 on Wednesday. Casey’s General Stores has a 52 week low of $90.42 and a 52 week high of $137.08. The stock has a market cap of $4.92 billion, a P/E ratio of 35.25, a price-to-earnings-growth ratio of 3.13 and a beta of 0.51. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.27 and a current ratio of 0.81.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Monday, December 10th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.19. Casey’s General Stores had a net margin of 3.77% and a return on equity of 13.24%. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period last year, the firm earned $1.28 earnings per share. Casey’s General Stores’s revenue for the quarter was up 17.8% compared to the same quarter last year. Equities research analysts anticipate that Casey’s General Stores will post 4.87 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, February 1st will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, January 31st. Casey’s General Stores’s dividend payout ratio is currently 30.45%.

In other Casey’s General Stores news, insider Terry W. Handley sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $131.80, for a total value of $395,400.00. Following the transaction, the insider now directly owns 34,945 shares of the company’s stock, valued at approximately $4,605,751. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP William J. Walljasper sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, December 12th. The shares were sold at an average price of $135.05, for a total transaction of $945,350.00. Following the completion of the transaction, the vice president now directly owns 28,865 shares in the company, valued at $3,898,218.25. The disclosure for this sale can be found here. 0.72% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in CASY. Kwmg LLC bought a new position in Casey’s General Stores in the 2nd quarter valued at about $106,000. Parallel Advisors LLC bought a new position in Casey’s General Stores in the 3rd quarter valued at about $139,000. Crossmark Global Holdings Inc. bought a new position in Casey’s General Stores in the 2nd quarter valued at about $204,000. Ibex Investors LLC bought a new position in Casey’s General Stores in the 3rd quarter valued at about $206,000. Finally, Northwest Wealth Management LLC increased its holdings in Casey’s General Stores by 43.5% in the 3rd quarter. Northwest Wealth Management LLC now owns 1,650 shares of the company’s stock valued at $213,000 after buying an additional 500 shares during the period. 91.03% of the stock is currently owned by hedge funds and other institutional investors.

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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