Casey’s General Stores (NASDAQ:CASY) Price Target Cut to $345.00

Casey’s General Stores (NASDAQ:CASY) had its price target lowered by research analysts at Evercore ISI from $350.00 to $345.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price indicates a potential upside of 11.59% from the stock’s current price.

A number of other brokerages have also issued reports on CASY. BMO Capital Markets upped their target price on Casey’s General Stores from $290.00 to $305.00 and gave the company a “market perform” rating in a research report on Wednesday, March 13th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a report on Thursday, March 21st. Wells Fargo & Company raised their price objective on shares of Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5th. Finally, Benchmark restated a “buy” rating and issued a $312.00 target price on shares of Casey’s General Stores in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Casey’s General Stores currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.63.

Casey’s General Stores Price Performance

Shares of CASY stock opened at $309.17 on Tuesday. The firm has a fifty day simple moving average of $303.89 and a 200-day simple moving average of $285.62. The company has a market capitalization of $11.44 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 2.51 and a beta of 0.83. Casey’s General Stores has a twelve month low of $212.50 and a twelve month high of $324.40. The company has a current ratio of 0.89, a quick ratio of 0.42 and a debt-to-equity ratio of 0.54.

Casey’s General Stores (NASDAQ:CASY) last announced its earnings results on Tuesday, March 12th. The company reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.20 by $0.13. Casey’s General Stores had a return on equity of 16.70% and a net margin of 3.23%. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the firm earned $2.36 earnings per share. The company’s revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Casey’s General Stores will post 12.81 earnings per share for the current fiscal year.

Institutional Trading of Casey’s General Stores

Several hedge funds have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new stake in Casey’s General Stores in the first quarter worth $30,000. Point72 Europe London LLP acquired a new stake in shares of Casey’s General Stores in the 4th quarter worth about $27,000. BKM Wealth Management LLC bought a new stake in Casey’s General Stores in the 4th quarter valued at about $29,000. Money Concepts Capital Corp grew its position in Casey’s General Stores by 62.7% in the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock worth $27,000 after purchasing an additional 47 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of Casey’s General Stores in the fourth quarter valued at approximately $35,000. Institutional investors own 85.63% of the company’s stock.

Casey’s General Stores Company Profile

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.