Casey’s General Stores Inc (CASY) Receives Average Rating of “Hold” from Brokerages

Shares of Casey’s General Stores Inc (NASDAQ:CASY) have been given a consensus recommendation of “Hold” by the fourteen ratings firms that are currently covering the firm, Marketbeat reports. Nine research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $123.25.

Several equities analysts have commented on CASY shares. Zacks Investment Research raised Casey’s General Stores from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. Goldman Sachs Group initiated coverage on Casey’s General Stores in a research report on Thursday, April 5th. They set a “neutral” rating and a $106.00 price target on the stock. Deutsche Bank dropped their price target on Casey’s General Stores from $120.00 to $116.00 and set a “buy” rating on the stock in a research report on Wednesday, June 13th. BidaskClub downgraded Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Finally, Northcoast Research reissued a “neutral” rating on shares of Casey’s General Stores in a research report on Tuesday, June 5th.

In other news, insider Terry W. Handley sold 1,342 shares of the stock in a transaction on Monday, June 18th. The stock was sold at an average price of $100.12, for a total transaction of $134,361.04. Following the transaction, the insider now owns 33,287 shares of the company’s stock, valued at approximately $3,332,694.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of CASY. Granite Springs Asset Management LLC raised its stake in Casey’s General Stores by 9.7% in the first quarter. Granite Springs Asset Management LLC now owns 5,650 shares of the company’s stock valued at $620,000 after buying an additional 500 shares during the last quarter. Aristotle Atlantic Partners LLC raised its stake in Casey’s General Stores by 33.1% in the first quarter. Aristotle Atlantic Partners LLC now owns 2,426 shares of the company’s stock valued at $266,000 after buying an additional 603 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Casey’s General Stores by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 23,087 shares of the company’s stock valued at $2,535,000 after buying an additional 637 shares during the last quarter. Vident Investment Advisory LLC raised its stake in Casey’s General Stores by 6.5% in the fourth quarter. Vident Investment Advisory LLC now owns 19,027 shares of the company’s stock valued at $2,130,000 after buying an additional 1,155 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Casey’s General Stores in the fourth quarter valued at about $133,000. 95.83% of the stock is currently owned by institutional investors.

NASDAQ:CASY traded up $0.51 during midday trading on Friday, hitting $109.67. 162,945 shares of the company traded hands, compared to its average volume of 503,108. Casey’s General Stores has a 12-month low of $90.42 and a 12-month high of $128.51. The firm has a market capitalization of $3.98 billion, a PE ratio of 28.68, a PEG ratio of 2.59 and a beta of 0.58. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.31 and a current ratio of 0.78.

Casey’s General Stores (NASDAQ:CASY) last released its quarterly earnings results on Tuesday, June 12th. The company reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.15). The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Casey’s General Stores had a net margin of 3.79% and a return on equity of 11.61%. The business’s quarterly revenue was up 13.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 EPS. equities analysts forecast that Casey’s General Stores will post 4.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 15th. Stockholders of record on Wednesday, August 1st will be given a dividend of $0.29 per share. This is an increase from Casey’s General Stores’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, July 31st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.06%. Casey’s General Stores’s dividend payout ratio is presently 27.30%.

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. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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