Casey’s General Stores (NASDAQ:CASY) Now Covered by Melius Research

Investment analysts at Melius Research initiated coverage on shares of Casey’s General Stores (NASDAQ:CASY) in a research report issued to clients and investors on Monday, Benzinga reports. The firm set a “buy” rating and a $435.00 price target on the stock. Melius Research’s target price suggests a potential upside of 15.93% from the stock’s current price.

A number of other research firms have also recently issued reports on CASY. Royal Bank of Canada upped their price target on shares of Casey’s General Stores from $393.00 to $403.00 and gave the company a “sector perform” rating in a report on Thursday, September 5th. Wells Fargo & Company raised their target price on Casey’s General Stores from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Evercore ISI upped their price target on Casey’s General Stores from $410.00 to $435.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets upped their target price on shares of Casey’s General Stores from $305.00 to $400.00 and gave the company a “market perform” rating in a research report on Thursday, June 13th. Finally, StockNews.com lowered shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $407.64.

Casey’s General Stores Price Performance

CASY stock traded up $7.24 during trading on Monday, hitting $375.24. The company had a trading volume of 83,669 shares, compared to its average volume of 280,605. The business has a 50 day moving average of $374.29 and a 200 day moving average of $348.04. The firm has a market capitalization of $13.93 billion, a price-to-earnings ratio of 27.92, a P/E/G ratio of 2.58 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.44 and a debt-to-equity ratio of 0.44. Casey’s General Stores has a fifty-two week low of $260.13 and a fifty-two week high of $401.07.

Casey’s General Stores (NASDAQ:CASY) last released its earnings results on Wednesday, September 4th. The company reported $4.83 earnings per share for the quarter, topping the consensus estimate of $4.54 by $0.29. Casey’s General Stores had a net margin of 3.40% and a return on equity of 17.07%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the firm posted $4.52 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, research analysts predict that Casey’s General Stores will post 14.15 earnings per share for the current year.

Insider Transactions at Casey’s General Stores

In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $374.54, for a total transaction of $5,056,290.00. Following the transaction, the chief executive officer now owns 73,838 shares in the company, valued at approximately $27,655,284.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Casey’s General Stores news, CEO Darren M. Rebelez sold 13,500 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $374.54, for a total value of $5,056,290.00. Following the completion of the transaction, the chief executive officer now directly owns 73,838 shares in the company, valued at $27,655,284.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Thomas P. Brennan, Jr. sold 3,000 shares of Casey’s General Stores stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $380.24, for a total transaction of $1,140,720.00. Following the sale, the insider now owns 9,044 shares in the company, valued at $3,438,890.56. The disclosure for this sale can be found here. Insiders own 0.47% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

Hedge funds and other institutional investors have recently made changes to their positions in the business. TrinityPoint Wealth LLC grew its holdings in Casey’s General Stores by 2.3% during the fourth quarter. TrinityPoint Wealth LLC now owns 2,807 shares of the company’s stock worth $771,000 after buying an additional 63 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in Casey’s General Stores during the 4th quarter worth approximately $222,000. D.A. Davidson & CO. lifted its stake in Casey’s General Stores by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 1,733 shares of the company’s stock worth $476,000 after purchasing an additional 61 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Casey’s General Stores by 139.6% in the 4th quarter. Franklin Resources Inc. now owns 39,569 shares of the company’s stock valued at $10,871,000 after purchasing an additional 23,052 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in shares of Casey’s General Stores by 4.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 29,141 shares of the company’s stock valued at $8,006,000 after purchasing an additional 1,211 shares in the last quarter. 85.63% of the stock is owned by institutional investors.

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.