Casey’s General Stores (NASDAQ:CASY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Casey’s General Stores, Inc. and its wholly owned subsidiaries operate convenience stores under the names Casey’s and Casey’s General Store. The Company also operates two stores under the name Tobacco City, selling primarily tobacco products, and one grocery store. The Casey’s stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts, and sandwiches), beverages, tobacco products, health and beauty aids, automotive products, and other nonfood items. In addition, all but two stores offer fuel for sale on a self-service basis. Casey’s General Stores Inc. is a chain of convenience stores. Casey’s operates its own distribution centers, delivering approximately 90% of in-store products as well as approximately 75% of the fuel sold at own stores. “
Other research analysts also recently issued research reports about the company. BidaskClub raised Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Stephens set a $140.00 price objective on Casey’s General Stores and gave the stock a “buy” rating in a research note on Wednesday, March 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $136.00 price objective on shares of Casey’s General Stores in a research note on Thursday, March 8th. Gabelli started coverage on Casey’s General Stores in a research note on Friday, February 16th. They issued a “buy” rating and a $162.00 price objective on the stock. Finally, Deutsche Bank decreased their price objective on Casey’s General Stores from $120.00 to $116.00 and set a “buy” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $124.11.
Shares of NASDAQ CASY traded down $0.07 during trading on Thursday, hitting $99.11. The company had a trading volume of 439,600 shares, compared to its average volume of 513,639. The company has a quick ratio of 0.48, a current ratio of 1.03 and a debt-to-equity ratio of 0.98. Casey’s General Stores has a 12 month low of $90.42 and a 12 month high of $128.51. The company has a market capitalization of $3.62 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 1.63 and a beta of 0.60.
Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings data on Tuesday, June 12th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.15). Casey’s General Stores had a return on equity of 12.70% and a net margin of 4.03%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period last year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. research analysts anticipate that Casey’s General Stores will post 3.88 EPS for the current year.
Casey’s General Stores declared that its board has authorized a stock repurchase plan on Wednesday, March 7th that permits the company to buyback $300.00 million in shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other Casey’s General Stores news, VP William J. Walljasper sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was sold at an average price of $108.85, for a total transaction of $108,850.00. Following the completion of the transaction, the vice president now owns 21,452 shares in the company, valued at approximately $2,335,050.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in Casey’s General Stores by 0.9% during the 1st quarter. Principal Financial Group Inc. now owns 163,718 shares of the company’s stock valued at $17,971,000 after buying an additional 1,410 shares in the last quarter. SPF Beheer BV lifted its stake in shares of Casey’s General Stores by 1.2% in the 1st quarter. SPF Beheer BV now owns 297,415 shares of the company’s stock valued at $32,647,000 after purchasing an additional 3,513 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Casey’s General Stores by 56.4% in the 1st quarter. Millennium Management LLC now owns 7,826 shares of the company’s stock valued at $859,000 after purchasing an additional 2,821 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Casey’s General Stores in the 1st quarter valued at approximately $5,949,000. Finally, WealthPLAN Partners LLC lifted its stake in shares of Casey’s General Stores by 33.4% in the 1st quarter. WealthPLAN Partners LLC now owns 16,004 shares of the company’s stock valued at $1,756,000 after purchasing an additional 4,003 shares during the last quarter. Institutional investors and hedge funds own 92.65% 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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