Caseys General Stores (NASDAQ:CASY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.

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. “

CASY has been the topic of a number of other research reports. Royal Bank Of Canada set a $118.00 price target on shares of Caseys General Stores and gave the company a “hold” rating in a report on Sunday, August 13th. BidaskClub downgraded shares of Caseys General Stores from a “hold” rating to a “sell” rating in a research report on Thursday, August 17th. Jefferies Group set a $139.00 target price on shares of Caseys General Stores and gave the stock a “buy” rating in a report on Friday, August 25th. Finally, Raymond James Financial restated a “buy” rating on shares of Caseys General Stores in a report on Wednesday. Two analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $115.29.

Caseys General Stores (CASY) traded up $1.76 on Wednesday, reaching $123.43. The company’s stock had a trading volume of 399,800 shares, compared to its average volume of 483,866. The stock has a market cap of $4,610.94, a P/E ratio of 28.70, a P/E/G ratio of 2.61 and a beta of 0.46. Caseys General Stores has a one year low of $99.76 and a one year high of $126.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.99 and a quick ratio of 0.48.

Caseys General Stores (NASDAQ:CASY) last released its quarterly earnings data on Tuesday, September 5th. The company reported $1.46 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.46. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.16 billion. Caseys General Stores had a return on equity of 13.99% and a net margin of 2.19%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the business posted $1.70 EPS. equities analysts anticipate that Caseys General Stores will post 4.31 EPS for the current year.

In related news, SVP Brian Joseph Johnson sold 1,000 shares of the business’s stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $108.01, for a total transaction of $108,010.00. Following the transaction, the senior vice president now directly owns 8,229 shares in the company, valued at $888,814.29. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.30% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA raised its stake in Caseys General Stores by 56.7% during the second quarter. BNP Paribas Arbitrage SA now owns 16,839 shares of the company’s stock worth $1,804,000 after acquiring an additional 6,093 shares in the last quarter. Crawford Investment Counsel Inc. acquired a new position in shares of Caseys General Stores in the second quarter valued at approximately $1,629,000. Janus Henderson Group PLC acquired a new position in shares of Caseys General Stores in the second quarter valued at approximately $162,421,000. State Board of Administration of Florida Retirement System increased its stake in shares of Caseys General Stores by 4.8% in the second quarter. State Board of Administration of Florida Retirement System now owns 47,170 shares of the company’s stock valued at $5,052,000 after buying an additional 2,163 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in Caseys General Stores by 15.9% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,268,134 shares of the company’s stock valued at $135,830,000 after acquiring an additional 173,544 shares during the last quarter. 97.20% of the stock is owned by institutional investors and hedge funds.

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About Caseys General Stores

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range 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.

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Analyst Recommendations for Caseys General Stores (NASDAQ:CASY)

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