Casey’s General Stores (NASDAQ:CASY) Upgraded to Buy by Northcoast Research

Northcoast Research upgraded shares of Casey’s General Stores (NASDAQ:CASY) from a neutral rating to a buy rating in a report published on Tuesday, Analyst Price Targets reports. Northcoast Research currently has $247.00 price target on the stock, up from their prior price target of $225.36.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada increased their target price on shares of Casey’s General Stores from $217.00 to $233.00 and gave the stock a sector perform rating in a research note on Tuesday, August 31st. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a buy rating and issued a $237.00 price target on shares of Casey’s General Stores in a research note on Thursday, September 9th. Barclays raised their price target on shares of Casey’s General Stores from $170.00 to $200.00 and gave the company an equal weight rating in a research note on Thursday, June 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Casey’s General Stores from $246.00 to $256.00 and gave the company a buy rating in a research note on Thursday, September 9th. Finally, The Goldman Sachs Group lowered shares of Casey’s General Stores from a buy rating to a neutral rating and decreased their price target for the company from $240.00 to $215.00 in a research note on Tuesday, June 22nd. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Buy and an average target price of $227.09.

CASY stock opened at $191.28 on Tuesday. The company’s 50-day simple moving average is $197.93 and its 200-day simple moving average is $207.30. The company has a quick ratio of 0.45, a current ratio of 0.91 and a debt-to-equity ratio of 0.83. Casey’s General Stores has a 52-week low of $165.38 and a 52-week high of $229.18. The firm has a market cap of $7.10 billion, a P/E ratio of 22.91 and a beta of 0.88.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Monday, September 6th. The company reported $3.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.66 by $0.53. Casey’s General Stores had a net margin of 3.18% and a return on equity of 16.15%. The business had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the company posted $3.24 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, analysts anticipate that Casey’s General Stores will post 8.47 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 15th. Shareholders of record on Monday, November 1st will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Casey’s General Stores’s previous quarterly dividend of $0.34. The ex-dividend date is Friday, October 29th. Casey’s General Stores’s dividend payout ratio (DPR) is 16.23%.

In other news, Director Diane C. Bridgewater sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $199.65, for a total transaction of $598,950.00. Following the completion of the sale, the director now owns 10,187 shares in the company, valued at approximately $2,033,834.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Julia L. Jackowski sold 5,726 shares of the firm’s stock in a transaction that occurred on Tuesday, July 6th. The stock was sold at an average price of $192.66, for a total transaction of $1,103,171.16. Following the sale, the insider now owns 16,891 shares of the company’s stock, valued at approximately $3,254,220.06. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its holdings in Casey’s General Stores by 10.7% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 132,312 shares of the company’s stock valued at $25,753,000 after purchasing an additional 12,812 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Casey’s General Stores in the second quarter worth $543,000. Morgan Stanley grew its stake in shares of Casey’s General Stores by 79.7% in the second quarter. Morgan Stanley now owns 118,252 shares of the company’s stock worth $23,017,000 after acquiring an additional 52,443 shares in the last quarter. WealthPLAN Partners LLC grew its stake in shares of Casey’s General Stores by 15.1% in the second quarter. WealthPLAN Partners LLC now owns 49,258 shares of the company’s stock worth $9,720,000 after acquiring an additional 6,455 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Casey’s General Stores in the second quarter worth $4,681,000. Hedge funds and other institutional investors own 82.84% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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