Deutsche Bank Aktiengesellschaft Begins Coverage on Casey’s General Stores (NASDAQ:CASY)

Equities research analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a research note issued on Thursday. The brokerage set a “buy” rating on the stock.

Several other brokerages have also weighed in on CASY. Royal Bank Of Canada increased their price objective on Casey’s General Stores from $570.00 to $591.00 and gave the stock a “sector perform” rating in a research report on Wednesday, December 10th. KeyCorp reaffirmed an “overweight” rating on shares of Casey’s General Stores in a research note on Thursday, December 11th. Stephens increased their price objective on Casey’s General Stores from $570.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday, December 3rd. Wells Fargo & Company increased their price target on Casey’s General Stores from $610.00 to $625.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Casey’s General Stores in a report on Monday, December 29th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Casey’s General Stores presently has a consensus rating of “Moderate Buy” and an average target price of $585.67.

Casey’s General Stores Price Performance

Casey’s General Stores stock traded up $15.23 during midday trading on Thursday, reaching $588.84. The company had a trading volume of 122,599 shares, compared to its average volume of 208,164. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.05 and a quick ratio of 0.65. Casey’s General Stores has a 12-month low of $372.08 and a 12-month high of $592.18. The company has a market capitalization of $21.83 billion, a P/E ratio of 36.15 and a beta of 0.67. The firm’s fifty day simple moving average is $551.40 and its 200-day simple moving average is $536.45.

Casey’s General Stores (NASDAQ:CASY) last issued 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. The business had revenue of $4.51 billion during the quarter, compared to analysts’ expectations of $4.51 billion. Casey’s General Stores had a net margin of 3.58% and a return on equity of 16.89%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the business earned $4.85 earnings per share. As a group, equities analysts anticipate that Casey’s General Stores will post 13.94 EPS for the current year.

Insider Buying and Selling at Casey’s General Stores

In other news, Director Moats Maria Castanon bought 300 shares of the firm’s 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 transaction, the director directly owned 803 shares in the company, valued at $445,391.98. This trade represents a 59.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

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. UNIVEST FINANCIAL Corp lifted its position in Casey’s General Stores by 157.2% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 8,556 shares of the company’s stock valued at $4,366,000 after purchasing an additional 5,230 shares during the last quarter. Franklin Resources Inc. boosted its position in Casey’s General Stores by 0.3% during the 2nd quarter. Franklin Resources Inc. now owns 708,893 shares of the company’s stock worth $361,727,000 after acquiring an additional 2,467 shares during the period. West Bancorporation Inc. acquired a new stake in Casey’s General Stores in the second quarter worth about $278,000. Corient Private Wealth LLC lifted its stake in shares of Casey’s General Stores by 13.8% in the 2nd quarter. Corient Private Wealth LLC now owns 186,357 shares of the company’s stock worth $95,068,000 after acquiring an additional 22,581 shares during the period. Finally, Kathmere Capital Management LLC bought a new position in Casey’s General Stores during the 2nd quarter valued at $280,000. 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.