Casey’s General Stores (NASDAQ:CASY) Price Target Increased to $300.00 by Analysts at JPMorgan Chase & Co.

Casey’s General Stores (NASDAQ:CASY) had its price objective increased by JPMorgan Chase & Co. from $298.00 to $300.00 in a report issued on Wednesday, Benzinga reports. They currently have a neutral rating on the stock.

CASY has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $420.00 to $444.00 and gave the company a buy rating in a research note on Monday, July 29th. Benchmark restated a buy rating and issued a $410.00 price objective on shares of Casey’s General Stores in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Casey’s General Stores from $340.00 to $415.00 and gave the company an overweight rating in a research note on Thursday, June 13th. Jefferies Financial Group upped their price target on shares of Casey’s General Stores from $342.00 to $445.00 and gave the company a buy rating in a report on Wednesday, June 12th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and issued a $393.00 price target on shares of Casey’s General Stores in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $399.20.

Casey’s General Stores Price Performance

NASDAQ CASY opened at $354.52 on Wednesday. The company has a quick ratio of 0.42, a current ratio of 0.87 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $13.16 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.52 and a beta of 0.80. Casey’s General Stores has a 12-month low of $238.44 and a 12-month high of $401.07. The company has a 50 day moving average price of $373.77 and a two-hundred day moving average price of $341.30.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, June 11th. The company reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the prior year, the company posted $1.49 earnings per share. Casey’s General Stores’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, equities analysts predict that Casey’s General Stores will post 14.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Casey’s General Stores

Several large investors have recently added to or reduced their stakes in CASY. Norges Bank bought a new stake in shares of Casey’s General Stores during the fourth quarter valued at approximately $115,799,000. Congress Asset Management Co. MA bought a new stake in Casey’s General Stores in the 1st quarter valued at $112,081,000. Point72 Asset Management L.P. raised its stake in shares of Casey’s General Stores by 561.7% in the 4th quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after buying an additional 231,887 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Casey’s General Stores by 3,846.1% during the 2nd quarter. Millennium Management LLC now owns 172,320 shares of the company’s stock worth $65,750,000 after acquiring an additional 176,920 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Casey’s General Stores by 113.0% during the 1st quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after acquiring an additional 154,803 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. Its stores offer pizza, donuts, breakfast items, and sandwiches; and tobacco and nicotine products. The company's stores provide soft drinks, energy, water, sports drinks, juices, coffee, and tea and dairy products; beer, wine, and spirits; snacks, candy, packaged bakery, and other food items; ice, ice cream, meals, and appetizers; health and beauty aids, automotive products, electronic accessories, housewares, and pet supplies; and ATM, lotto/lottery, and prepaid cards.