Casey’s General Stores, Inc. (NASDAQ:CASY – Get Rating)’s stock price was down 4% during mid-day trading on Wednesday after Royal Bank of Canada lowered their price target on the stock from $250.00 to $238.00. The company traded as low as $195.96 and last traded at $198.04. Approximately 1,382 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 278,825 shares. The stock had previously closed at $206.25.
Several other equities research analysts also recently issued reports on the company. Wells Fargo & Company initiated coverage on Casey’s General Stores in a research report on Wednesday, May 25th. They set an “overweight” rating and a $240.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on Casey’s General Stores from $257.00 to $259.00 and gave the company a “buy” rating in a research note on Thursday, March 10th. Finally, StockNews.com initiated coverage on Casey’s General Stores in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $232.00.
Hedge funds have recently modified their holdings of the company. Meeder Asset Management Inc. purchased a new position in shares of Casey’s General Stores during the 1st quarter valued at $28,000. Legacy Bridge LLC purchased a new position in shares of Casey’s General Stores during the 4th quarter valued at $34,000. Lumature Wealth Partners LLC lifted its stake in shares of Casey’s General Stores by 63.8% during the 4th quarter. Lumature Wealth Partners LLC now owns 172 shares of the company’s stock valued at $34,000 after buying an additional 67 shares in the last quarter. Covestor Ltd purchased a new position in shares of Casey’s General Stores during the 4th quarter valued at $34,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of Casey’s General Stores during the 4th quarter valued at $49,000. 84.44% of the stock is owned by hedge funds and other institutional investors.
The firm has a market cap of $7.44 billion, a PE ratio of 23.95 and a beta of 0.77. The company has a current ratio of 0.84, a quick ratio of 0.39 and a debt-to-equity ratio of 0.81. The firm’s 50 day simple moving average is $205.55 and its 200 day simple moving average is $195.39.
Casey’s General Stores (NASDAQ:CASY – Get Rating) last announced its quarterly earnings results on Tuesday, June 7th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.48 by $0.12. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.45 billion. Casey’s General Stores had a net margin of 2.71% and a return on equity of 15.56%. The business’s quarterly revenue was up 45.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, equities research analysts predict that Casey’s General Stores, Inc. will post 8.98 earnings per share for the current fiscal year.
About Casey’s General Stores (NASDAQ:CASY)
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 a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; tobacco, and nicotine products; health and beauty aids; automotive products; and other nonfood items.
