Casey’s General Stores (NASDAQ:CASY) Stock Rating Lowered by Northcoast Research

Casey’s General Stores (NASDAQ:CASY) was downgraded by research analysts at Northcoast Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, Marketbeat reports.

CASY has been the subject of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Casey’s General Stores in a research note on Monday, December 29th. Zacks Research upgraded Casey’s General Stores from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 12th. Deutsche Bank Aktiengesellschaft set a $688.00 price objective on Casey’s General Stores in a research report on Thursday, January 8th. BNP Paribas Exane started coverage on shares of Casey’s General Stores in a report on Tuesday. They issued an “outperform” rating and a $730.00 target price on the stock. Finally, Bank of America started coverage on shares of Casey’s General Stores in a research note on Friday, January 9th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $614.91.

Casey’s General Stores Stock Down 1.1%

Shares of CASY opened at $618.81 on Wednesday. The company’s 50-day simple moving average is $571.60 and its 200-day simple moving average is $544.54. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.65 and a current ratio of 1.05. Casey’s General Stores has a 1 year low of $372.08 and a 1 year high of $647.99. The stock has a market capitalization of $22.94 billion, a PE ratio of 38.06, a P/E/G ratio of 2.21 and a beta of 0.67.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, December 9th. The company reported $5.53 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.61. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The firm had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.51 billion. During the same period in the prior year, the firm earned $4.85 EPS. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. Analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Moats Maria Castanon acquired 300 shares of the company’s stock in a transaction on Monday, January 5th. The shares were bought at an average price of $554.66 per share, with a total value of $166,398.00. Following the completion of the acquisition, the director owned 803 shares in the company, valued at $445,391.98. This trade represents a 59.64% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey’s General Stores in the 3rd quarter valued at $25,000. Westside Investment Management Inc. grew its position in Casey’s General Stores by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 46 shares of the company’s stock worth $26,000 after purchasing an additional 23 shares during the last quarter. True Wealth Design LLC grew its position in Casey’s General Stores by 350.0% during the 4th quarter. True Wealth Design LLC now owns 54 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Central Pacific Bank Trust Division increased its stake in Casey’s General Stores by 52.8% in the fourth quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock valued at $30,000 after purchasing an additional 19 shares during the period. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Casey’s General Stores in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

Casey’s General Stores, Inc (NASDAQ: CASY) is a U.S.-based convenience store chain that operates retail fuel stations and food-focused convenience outlets. Founded in 1959 in Boone, Iowa, the company has grown from a single neighborhood store into a regional operator known for combining traditional convenience retailing—fuel, packaged goods and tobacco—with a larger emphasis on fresh and prepared foods.

The company’s stores typically offer gasoline and diesel alongside a range of grocery essentials, grab-and-go items and made-to-order foodservice.