Casey’s General Stores (NASDAQ:CASY) Downgraded to Sell at BidaskClub

BidaskClub cut shares of Casey’s General Stores (NASDAQ:CASY) from a hold rating to a sell rating in a research report report published on Tuesday morning, BidAskClub reports.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank increased their price target on shares of Casey’s General Stores from $175.00 to $177.00 and gave the stock a buy rating in a report on Wednesday, June 10th. Sidoti increased their price target on shares of Casey’s General Stores from $176.00 to $187.00 and gave the stock a buy rating in a report on Tuesday, June 2nd. Royal Bank of Canada reissued a hold rating and issued a $158.00 price target on shares of Casey’s General Stores in a report on Monday, April 6th. Zacks Investment Research raised shares of Casey’s General Stores from a sell rating to a hold rating and set a $155.00 price target on the stock in a report on Friday, May 8th. Finally, Jefferies Financial Group raised their target price on shares of Casey’s General Stores from $175.00 to $196.00 and gave the company a buy rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $167.91.

Shares of NASDAQ:CASY opened at $148.39 on Tuesday. The company has a quick ratio of 0.14, a current ratio of 0.36 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $5.50 billion, a PE ratio of 20.90, a P/E/G ratio of 2.99 and a beta of 0.76. Casey’s General Stores has a twelve month low of $114.01 and a twelve month high of $181.99. The company has a 50-day moving average price of $153.96 and a two-hundred day moving average price of $156.67.

Casey’s General Stores (NASDAQ:CASY) last announced its quarterly earnings results on Monday, June 8th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.12). Casey’s General Stores had a return on equity of 16.80% and a net margin of 2.88%. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.76 billion. During the same period in the previous year, the company posted $0.68 earnings per share. The company’s quarterly revenue was down 16.8% compared to the same quarter last year. Analysts anticipate that Casey’s General Stores will post 5.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, August 3rd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, July 31st. Casey’s General Stores’s payout ratio is currently 18.03%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ladenburg Thalmann Financial Services Inc. grew its position in Casey’s General Stores by 0.8% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,759 shares of the company’s stock valued at $1,234,000 after acquiring an additional 63 shares during the last quarter. Piedmont Investment Advisors Inc. grew its position in Casey’s General Stores by 2.0% during the first quarter. Piedmont Investment Advisors Inc. now owns 3,541 shares of the company’s stock valued at $469,000 after acquiring an additional 70 shares during the last quarter. Marks Group Wealth Management Inc grew its position in Casey’s General Stores by 3.2% during the first quarter. Marks Group Wealth Management Inc now owns 3,174 shares of the company’s stock valued at $411,000 after acquiring an additional 99 shares during the last quarter. Utah Retirement Systems grew its position in Casey’s General Stores by 1.5% during the fourth quarter. Utah Retirement Systems now owns 6,975 shares of the company’s stock valued at $1,108,000 after acquiring an additional 100 shares during the last quarter. Finally, Demars Financial Group LLC grew its position in Casey’s General Stores by 0.8% during the first quarter. Demars Financial Group LLC now owns 13,178 shares of the company’s stock valued at $1,746,000 after acquiring an additional 101 shares during the last quarter. Institutional investors and hedge funds own 87.58% 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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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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