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

Casey’s General Stores (NASDAQ:CASY) was upgraded by stock analysts at Northcoast Research from a “neutral” rating to a “buy” rating in a report released on Thursday, MarketBeat.com reports. The brokerage currently has a $410.00 price objective on the stock. Northcoast Research’s price target points to a potential upside of 8.92% from the stock’s current price.

Several other analysts also recently weighed in on CASY. BMO Capital Markets boosted their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a research note on Thursday, June 13th. Jefferies Financial Group upped their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a “buy” rating in a research note on Wednesday, June 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $375.00 to $420.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Benchmark upped their price objective on shares of Casey’s General Stores from $350.00 to $410.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. Finally, Royal Bank of Canada upped their price objective on shares of Casey’s General Stores from $322.00 to $361.00 and gave the company a “sector perform” rating in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.10.

Casey’s General Stores Trading Up 0.1 %

Shares of CASY stock opened at $376.44 on Thursday. The company has a 50 day moving average of $351.90 and a 200-day moving average of $316.23. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. Casey’s General Stores has a 12-month low of $238.44 and a 12-month high of $389.43. The firm has a market cap of $13.97 billion, a P/E ratio of 28.03, a PEG ratio of 2.63 and a beta of 0.80.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.64. The firm had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 EPS. Sell-side analysts anticipate that Casey’s General Stores will post 14.2 earnings per share for the current year.

Hedge Funds Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc purchased a new position in shares of Casey’s General Stores during the 4th quarter worth about $2,596,000. Comerica Bank bought a new stake in Casey’s General Stores during the 3rd quarter valued at about $5,834,000. Congress Asset Management Co. MA bought a new stake in Casey’s General Stores during the 1st quarter valued at about $112,081,000. Steward Partners Investment Advisory LLC lifted its holdings in Casey’s General Stores by 195.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,488 shares of the company’s stock valued at $958,000 after buying an additional 2,309 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in Casey’s General Stores during the 4th quarter valued at about $666,000. 85.63% of the stock is owned by hedge funds and other institutional investors.

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. 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.