Zacks Investment Research cut shares of Caseys General Stores (NASDAQ:CASY) from a hold rating to a sell rating in a research report report published 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 subject of a number of other research reports. Raymond James Financial reiterated a buy rating on shares of Caseys General Stores in a research note on Wednesday. Royal Bank Of Canada set a $118.00 price objective on Caseys General Stores and gave the company a hold rating in a research note on Sunday, August 13th. BidaskClub lowered Caseys General Stores from a hold rating to a sell rating in a research note on Thursday, August 17th. Finally, Jefferies Group set a $139.00 price objective on Caseys General Stores and gave the company a buy rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $115.29.
Shares of Caseys General Stores (NASDAQ CASY) traded up $1.14 during mid-day trading on Wednesday, reaching $124.57. The company had a trading volume of 411,200 shares, compared to its average volume of 483,557. The stock has a market cap of $4,677.64, a price-to-earnings ratio of 29.11, a price-to-earnings-growth ratio of 2.65 and a beta of 0.46. 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 has a one year low of $99.76 and a one year high of $126.49.
Caseys General Stores (NASDAQ:CASY) last issued its earnings results on Tuesday, September 5th. The company reported $1.46 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.46. The company 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 firm’s quarterly 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 predict that Caseys General Stores will post 4.31 earnings per share for the current year.
In related news, SVP Brian Joseph Johnson sold 1,000 shares of Caseys General Stores stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $108.01, for a total value of $108,010.00. Following the completion of the transaction, the senior vice president now owns 8,229 shares in the company, valued at approximately $888,814.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Clear Perspective Advisors LLC boosted its holdings in shares of Caseys General Stores by 8.9% during the 2nd quarter. Clear Perspective Advisors LLC now owns 1,225 shares of the company’s stock worth $131,000 after purchasing an additional 100 shares during the last quarter. Zions Bancorporation acquired a new position in shares of Caseys General Stores during the 3rd quarter worth approximately $164,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Caseys General Stores by 46.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,779 shares of the company’s stock worth $191,000 after purchasing an additional 566 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new position in shares of Caseys General Stores during the 3rd quarter worth approximately $264,000. Finally, Trexquant Investment LP acquired a new position in shares of Caseys General Stores during the 3rd quarter worth approximately $267,000. Institutional investors own 97.20% of the company’s stock.
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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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