Casey’s General Stores (NASDAQ:CASY) Upgraded to Outperform at BMO Capital Markets

Casey’s General Stores (NASDAQ:CASY) was upgraded by equities research analysts at BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a $950.00 price target on the stock. BMO Capital Markets’ price target would indicate a potential upside of 22.01% from the stock’s previous close.

CASY has been the topic of a number of other reports. Zacks Research cut shares of Casey’s General Stores from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Capital One Financial initiated coverage on shares of Casey’s General Stores in a research report on Monday, June 22nd. They set an “equal weight” rating and a $896.00 price objective on the stock. Royal Bank Of Canada upped their target price on shares of Casey’s General Stores from $794.00 to $850.00 and gave the company a “sector perform” rating in a report on Thursday. The Goldman Sachs Group raised their price target on Casey’s General Stores from $695.00 to $795.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Wall Street Zen upgraded Casey’s General Stores from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $939.29.

Casey’s General Stores Price Performance

Shares of NASDAQ CASY opened at $778.63 on Monday. The business has a 50-day moving average price of $818.34 and a 200 day moving average price of $705.36. The stock has a market cap of $28.82 billion, a PE ratio of 40.64, a price-to-earnings-growth ratio of 2.34 and a beta of 0.61. The company has a quick ratio of 0.60, a current ratio of 1.01 and a debt-to-equity ratio of 0.59. Casey’s General Stores has a 52-week low of $490.00 and a 52-week high of $927.85.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 9th. The company reported $4.37 EPS for the quarter, topping the consensus estimate of $3.31 by $1.06. Casey’s General Stores had a return on equity of 18.73% and a net margin of 4.07%.The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the company posted $2.63 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. Equities research analysts forecast that Casey’s General Stores will post 21.05 earnings per share for the current year.

Institutional Investors Weigh In On Casey’s General Stores

A number of hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its stake in shares of Casey’s General Stores by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 760,438 shares of the company’s stock worth $420,416,000 after buying an additional 52,250 shares in the last quarter. North Dakota State Investment Board purchased a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $720,000. Burns J W & Co. Inc. NY grew its holdings in Casey’s General Stores by 103.5% during the first quarter. Burns J W & Co. Inc. NY now owns 2,448 shares of the company’s stock worth $1,782,000 after acquiring an additional 1,245 shares during the period. Jackson Creek Investment Advisors LLC purchased a new position in Casey’s General Stores in the fourth quarter worth $1,338,000. Finally, PNC Financial Services Group Inc. raised its position in Casey’s General Stores by 2.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 140,491 shares of the company’s stock worth $77,651,000 after acquiring an additional 3,553 shares in the last quarter. Institutional investors and hedge funds 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.