Casey’s General Stores (NASDAQ:CASY) Rating Lowered to Buy at StockNews.com

Casey’s General Stores (NASDAQ:CASY) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Friday.

CASY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Casey’s General Stores from $451.00 to $454.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. lowered shares of Casey’s General Stores from a “neutral” rating to an “underweight” rating and raised their price target for the company from $300.00 to $337.00 in a research report on Thursday, September 19th. Melius Research assumed coverage on shares of Casey’s General Stores in a research report on Monday, September 23rd. They issued a “buy” rating and a $435.00 target price on the stock. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Finally, Gordon Haskett initiated coverage on shares of Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $419.45.

Casey’s General Stores Stock Down 0.1 %

NASDAQ CASY opened at $425.27 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.44. Casey’s General Stores has a 1 year low of $266.58 and a 1 year high of $439.68. The business’s 50-day moving average is $405.04 and its 200 day moving average is $381.71. The stock has a market capitalization of $15.79 billion, a PE ratio of 29.64 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, topping analysts’ consensus estimates of $4.29 by $0.56. The business had revenue of $3.95 billion during the quarter, compared to the consensus estimate of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The firm’s revenue was down 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.24 EPS. Sell-side analysts forecast that Casey’s General Stores will post 14.28 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Katrina S. Lindsey sold 450 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the completion of the sale, the insider now directly owns 2,247 shares in the company, valued at approximately $959,761.11. This trade represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average price of $376.18 per share, for a total transaction of $100,440.06. Following the acquisition, the director now owns 2,594 shares of the company’s stock, valued at $975,810.92. The trade was a 11.47 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.56% of the company’s stock.

Hedge Funds Weigh In On Casey’s General Stores

Institutional investors have recently modified their holdings of the business. Soros Capital Management LLC lifted its holdings in shares of Casey’s General Stores by 1,825.6% during the 3rd quarter. Soros Capital Management LLC now owns 27,632 shares of the company’s stock valued at $10,382,000 after purchasing an additional 26,197 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Casey’s General Stores by 9.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,725 shares of the company’s stock valued at $5,532,000 after buying an additional 1,332 shares during the last quarter. FMR LLC raised its position in Casey’s General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock valued at $393,305,000 after buying an additional 38,226 shares during the last quarter. OneDigital Investment Advisors LLC raised its position in Casey’s General Stores by 111.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,004 shares of the company’s stock valued at $1,504,000 after buying an additional 2,113 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in Casey’s General Stores by 5.8% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 48,872 shares of the company’s stock valued at $18,362,000 after buying an additional 2,679 shares during the last quarter. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.