Casey’s General Stores (NASDAQ:CASY) Upgraded at Royal Bank of Canada

Casey’s General Stores (NASDAQ:CASY) was upgraded by Royal Bank of Canada from an “underperform” rating to a “sector perform” rating in a report issued on Wednesday, The Fly reports. The brokerage currently has a $162.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 18.65% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts also recently weighed in on the stock. Deutsche Bank upped their price target on shares of Casey’s General Stores from $184.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday, March 11th. Stephens upped their price target on shares of Casey’s General Stores from $186.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, March 11th. BMO Capital Markets cut their price target on shares of Casey’s General Stores from $170.00 to $165.00 and set a “market perform” rating for the company in a report on Wednesday, December 11th. Sidoti raised shares of Casey’s General Stores from a “neutral” rating to a “buy” rating and set a $156.00 price target for the company in a report on Tuesday. Finally, Sanford C. Bernstein started coverage on shares of Casey’s General Stores in a report on Tuesday, March 10th. They issued a “market perform” rating and a $175.00 price target for the company. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Casey’s General Stores currently has a consensus rating of “Hold” and an average price target of $171.64.

CASY stock opened at $136.54 on Wednesday. The company has a market capitalization of $5.05 billion, a P/E ratio of 22.35, a PEG ratio of 2.37 and a beta of 0.50. The company has a 50-day simple moving average of $164.22 and a 200 day simple moving average of $165.21. Casey’s General Stores has a fifty-two week low of $114.01 and a fifty-two week high of $181.99. The company has a quick ratio of 0.11, a current ratio of 0.35 and a debt-to-equity ratio of 0.45.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Monday, March 9th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.28 billion. Casey’s General Stores had a net margin of 2.38% and a return on equity of 15.01%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share. Equities analysts anticipate that Casey’s General Stores will post 6.35 EPS for the current year.

In other Casey’s General Stores news, CFO William J. Walljasper sold 2,000 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $163.99, for a total transaction of $327,980.00. Following the completion of the sale, the chief financial officer now directly owns 21,581 shares of the company’s stock, valued at $3,539,068.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Brian Joseph Johnson sold 8,000 shares of the company’s stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $168.07, for a total transaction of $1,344,560.00. Following the sale, the senior vice president now directly owns 18,817 shares of the company’s stock, valued at $3,162,573.19. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. lifted its stake in Casey’s General Stores by 12.7% during the fourth quarter. Franklin Resources Inc. now owns 13,762 shares of the company’s stock valued at $2,188,000 after buying an additional 1,551 shares in the last quarter. Dean Capital Investments Management LLC increased its holdings in shares of Casey’s General Stores by 48.5% in the 4th quarter. Dean Capital Investments Management LLC now owns 2,504 shares of the company’s stock valued at $398,000 after purchasing an additional 818 shares during the period. Barclays PLC increased its holdings in shares of Casey’s General Stores by 113.9% in the 3rd quarter. Barclays PLC now owns 41,376 shares of the company’s stock valued at $6,668,000 after purchasing an additional 22,029 shares during the period. Blueshift Asset Management LLC increased its holdings in shares of Casey’s General Stores by 96.1% in the 4th quarter. Blueshift Asset Management LLC now owns 7,784 shares of the company’s stock valued at $1,238,000 after purchasing an additional 3,814 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Casey’s General Stores by 1.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 8,900 shares of the company’s stock valued at $1,415,000 after purchasing an additional 100 shares during the period. 87.60% of the stock is owned by institutional investors.

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. 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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