Casey’s General Stores (NASDAQ:CASY) Cut to Hold at Wall Street Zen

Casey’s General Stores (NASDAQ:CASY) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other analysts also recently weighed in on CASY. Wells Fargo & Company raised their target price on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Deutsche Bank Aktiengesellschaft set a $688.00 target price on shares of Casey’s General Stores in a research note on Thursday, January 8th. KeyCorp reiterated an “overweight” rating and set a $700.00 price target on shares of Casey’s General Stores in a report on Thursday, February 12th. Stephens raised their price objective on shares of Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research report on Wednesday, December 3rd. Finally, Royal Bank Of Canada reiterated a “sector perform” rating and issued a $662.00 target price on shares of Casey’s General Stores in a research note on Friday, January 23rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Casey’s General Stores has a consensus rating of “Moderate Buy” and a consensus target price of $615.50.

Casey’s General Stores Stock Performance

NASDAQ:CASY opened at $667.22 on Friday. The stock has a market cap of $24.73 billion, a PE ratio of 41.03, a price-to-earnings-growth ratio of 2.36 and a beta of 0.68. Casey’s General Stores has a fifty-two week low of $372.08 and a fifty-two week high of $678.67. The firm’s fifty day simple moving average is $608.58 and its 200-day simple moving average is $562.81. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 0.62.

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

Insider Buying and Selling at Casey’s General Stores

In related news, Director Moats Maria Castanon purchased 300 shares of Casey’s General Stores stock in a transaction that occurred on Monday, January 5th. The stock was purchased at an average cost of $554.66 per share, with a total value of $166,398.00. Following the completion of the transaction, the director owned 803 shares of the company’s stock, valued at approximately $445,391.98. This trade represents a 59.64% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.54% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Menard Financial Group LLC boosted its stake in shares of Casey’s General Stores by 1.2% during the fourth quarter. Menard Financial Group LLC now owns 1,267 shares of the company’s stock valued at $700,000 after purchasing an additional 15 shares in the last quarter. Cibc World Market Inc. boosted its holdings in Casey’s General Stores by 0.3% during the 4th quarter. Cibc World Market Inc. now owns 5,136 shares of the company’s stock worth $2,839,000 after acquiring an additional 16 shares during the last quarter. Steph & Co. increased its position in shares of Casey’s General Stores by 2.2% during the third quarter. Steph & Co. now owns 819 shares of the company’s stock valued at $463,000 after acquiring an additional 18 shares during the last quarter. LifeWealth Investments LLC grew its holdings in Casey’s General Stores by 2.1% during the third quarter. LifeWealth Investments LLC now owns 858 shares of the company’s stock valued at $485,000 after purchasing an additional 18 shares during the period. Finally, FSB Premier Wealth Management Inc. lifted its stake in shares of Casey’s General Stores by 0.8% during the 4th quarter. FSB Premier Wealth Management Inc. now owns 2,338 shares of the company’s stock valued at $1,292,000 after buying an additional 18 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

About Casey’s General Stores

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.