Casey’s General Stores (NASDAQ:CASY) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

Casey’s General Stores (NASDAQ:CASY) had its target price boosted by investment analysts at Royal Bank of Canada from $403.00 to $428.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 0.04% from the stock’s previous close.

A number of other research firms also recently issued reports on CASY. Evercore ISI increased their target price on shares of Casey’s General Stores from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of Casey’s General Stores from a “buy” rating to a “strong-buy” rating in a research report on Thursday, December 5th. Benchmark restated a “buy” rating and set a $410.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 10th. Wells Fargo & Company increased their price target on Casey’s General Stores from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $410.33.

Casey’s General Stores Stock Up 2.6 %

Shares of CASY opened at $427.81 on Tuesday. Casey’s General Stores has a fifty-two week low of $266.56 and a fifty-two week high of $439.68. The company’s fifty day moving average is $402.76 and its two-hundred day moving average is $380.52. The firm has a market cap of $15.88 billion, a PE ratio of 31.14 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.84 and a debt-to-equity ratio of 0.44.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, December 9th. The company reported $4.85 earnings per share for the quarter, beating analysts’ consensus estimates of $4.29 by $0.56. The firm had revenue of $3.95 billion for the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a return on equity of 17.07% and a net margin of 3.40%. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm earned $4.24 earnings per share. Analysts forecast that Casey’s General Stores will post 14.22 earnings per share for the current year.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Mike Spanos purchased 267 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $376.18 per share, for a total transaction of $100,440.06. Following the completion of the purchase, the director now owns 2,594 shares of the company’s stock, valued at approximately $975,810.92. This trade represents a 11.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.56% of the stock is currently owned by corporate insiders.

Institutional Trading of Casey’s General Stores

Several institutional investors and hedge funds have recently bought and sold shares of the company. Soros Capital Management LLC raised its position 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 acquiring an additional 26,197 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 worth $5,532,000 after buying an additional 1,332 shares during the last quarter. FMR LLC lifted its position in shares of Casey’s General Stores by 3.8% in the 3rd quarter. FMR LLC now owns 1,046,830 shares of the company’s stock worth $393,305,000 after buying an additional 38,226 shares during the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of 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 period. Finally, Segall Bryant & Hamill LLC grew its position in shares of Casey’s General Stores by 5.8% during 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 and hedge funds 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.