Casey's General Stores (CASY) Raised to “Hold” at Zacks Investment Research

Casey's General Stores (NASDAQ:CASY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

Several other equities research analysts have also recently weighed in on CASY. Wells Fargo & Co increased their price target on shares of Casey's General Stores from $105.00 to $118.00 and gave the company a “market perform” rating in a research report on Thursday, January 4th. BMO Capital Markets set a $122.00 price target on shares of Casey's General Stores and gave the company a “hold” rating in a research report on Wednesday, January 24th. Barclays reissued a “hold” rating on shares of Casey's General Stores in a research report on Friday, December 15th. Raymond James Financial cut shares of Casey's General Stores from an “outperform” rating to a “mkt perform” rating in a research report on Tuesday, December 12th. Finally, Stephens set a $119.00 price target on shares of Casey's General Stores and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Eight analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $120.78.

Casey's General Stores (CASY) traded up $1.27 during mid-day trading on Tuesday, hitting $112.53. 370,293 shares of the company traded hands, compared to its average volume of 456,606. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.72 and a current ratio of 1.23. Casey's General Stores has a 52 week low of $99.76 and a 52 week high of $128.51. The company has a market cap of $4,203.04, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.94 and a beta of 0.51.

Casey's General Stores (NASDAQ:CASY) last released its earnings results on Monday, December 11th. The company reported $1.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.12). Casey's General Stores had a net margin of 2.02% and a return on equity of 13.42%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $1.44 EPS. Casey's General Stores’s revenue for the quarter was up 12.2% on a year-over-year basis. equities analysts predict that Casey's General Stores will post 4.2 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in CASY. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Casey's General Stores in the 4th quarter worth about $133,000. Zions Bancorporation purchased a new stake in shares of Casey's General Stores in the 3rd quarter worth about $164,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Casey's General Stores in the 3rd quarter worth about $264,000. Trexquant Investment LP purchased a new stake in shares of Casey's General Stores in the 3rd quarter worth about $267,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Casey's General Stores by 37.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,450 shares of the company’s stock worth $274,000 after purchasing an additional 671 shares during the period. 95.12% of the stock is owned by institutional investors and hedge funds.

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Casey's General Stores Company Profile

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 Casey's General Stores (NASDAQ:CASY)

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