Wells Fargo & Company Forecasts Strong Price Appreciation for Casey’s General Stores (NASDAQ:CASY) Stock

Casey’s General Stores (NASDAQ:CASY) had its target price lifted by investment analysts at Wells Fargo & Company from $625.00 to $725.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 6.90% from the company’s current price.

Several other analysts have also recently commented on the company. Stephens boosted their price target on Casey’s General Stores from $570.00 to $600.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 3rd. Northcoast Research downgraded Casey’s General Stores from a “buy” rating to a “neutral” rating in a research report on Wednesday, January 21st. The Goldman Sachs Group reiterated a “neutral” rating and issued a $530.00 target price on shares of Casey’s General Stores in a report on Wednesday, December 10th. Bank of America started coverage on shares of Casey’s General Stores in a research report on Friday, January 9th. They set a “buy” rating on the stock. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $700.00 price target on shares of Casey’s General Stores in a research report on Thursday, February 12th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $631.00.

Casey’s General Stores Trading Down 1.3%

Casey’s General Stores stock opened at $678.22 on Monday. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 0.62. The firm has a market cap of $25.14 billion, a PE ratio of 41.71, a P/E/G ratio of 2.43 and a beta of 0.65. The stock’s 50 day simple moving average is $625.80 and its two-hundred day simple moving average is $571.26. Casey’s General Stores has a 12 month low of $372.08 and a 12 month high of $690.00.

Casey’s General Stores (NASDAQ:CASY) last posted its earnings results on Tuesday, December 9th. The company reported $5.53 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 analysts’ expectations of $4.51 billion. During the same period last year, the firm earned $4.85 EPS. The company’s quarterly revenue was up 14.2% on a year-over-year basis. Analysts anticipate that Casey’s General Stores will post 13.94 earnings per share for the current year.

Insider Transactions at Casey’s General Stores

In other news, Director Moats Maria Castanon acquired 300 shares of the business’s stock in a transaction on Monday, January 5th. The stock was bought at an average price of $554.66 per share, for a total transaction of $166,398.00. Following the transaction, the director owned 803 shares in the company, valued at $445,391.98. This represents a 59.64% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Institutional Trading of Casey’s General Stores

A number of institutional investors have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC acquired a new position in shares of Casey’s General Stores during the 3rd quarter worth $25,000. Westside Investment Management Inc. raised its position in shares of 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. Central Pacific Bank Trust Division raised its position in shares of Casey’s General Stores by 52.8% during the 4th quarter. Central Pacific Bank Trust Division now owns 55 shares of the company’s stock worth $30,000 after purchasing an additional 19 shares during the last quarter. True Wealth Design LLC grew its holdings 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 valued at $30,000 after buying an additional 42 shares during the last quarter. Finally, Nvwm LLC purchased a new position in Casey’s General Stores during the second quarter worth $32,000. 85.63% of the stock is currently owned by hedge funds and other institutional investors.

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.