Casey’s General Stores (NASDAQ:CASY) Upgraded at StockNews.com

Casey’s General Stores (NASDAQ:CASY – Get Rating) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research report issued on Tuesday.

Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $285.00 to $294.00 and gave the company a “buy” rating in a research note on Thursday, March 9th. Benchmark restated a “buy” rating and set a $275.00 price target on shares of Casey’s General Stores in a research note on Thursday, March 9th. Stephens restated an “overweight” rating and set a $280.00 price target on shares of Casey’s General Stores in a research note on Wednesday, March 8th. Credit Suisse Group reiterated a “neutral” rating and issued a $254.00 price objective on shares of Casey’s General Stores in a research note on Thursday, March 9th. Finally, Wells Fargo & Company increased their price objective on shares of Casey’s General Stores to $270.00 in a research note on Monday, December 12th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $259.44.

Casey’s General Stores Trading Down 0.6 %

NASDAQ:CASY opened at $209.15 on Tuesday. Casey’s General Stores has a 52 week low of $180.71 and a 52 week high of $249.90. The firm has a 50 day moving average of $221.08 and a 200 day moving average of $222.73. The company has a quick ratio of 0.66, a current ratio of 1.10 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $7.79 billion, a price-to-earnings ratio of 17.39 and a beta of 0.82.

Casey’s General Stores (NASDAQ:CASY – Get Rating) last posted its earnings results on Wednesday, March 8th. The company reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.53. Casey’s General Stores had a net margin of 2.96% and a return on equity of 18.02%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the prior year, the company posted $1.71 earnings per share. Casey’s General Stores’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Casey’s General Stores will post 11.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Casey’s General Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Casey’s General Stores by 0.7% during the third quarter. Vanguard Group Inc. now owns 3,734,566 shares of the company’s stock valued at $756,324,000 after purchasing an additional 25,687 shares in the last quarter. State Street Corp lifted its holdings in Casey’s General Stores by 4.4% during the third quarter. State Street Corp now owns 1,432,889 shares of the company’s stock valued at $290,189,000 after purchasing an additional 60,487 shares in the last quarter. Morgan Stanley lifted its stake in shares of Casey’s General Stores by 430.5% in the fourth quarter. Morgan Stanley now owns 1,141,475 shares of the company’s stock worth $256,090,000 after buying an additional 926,324 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Casey’s General Stores by 4.7% in the third quarter. Thrivent Financial for Lutherans now owns 657,498 shares of the company’s stock worth $133,156,000 after buying an additional 29,485 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Casey’s General Stores by 48.1% in the second quarter. Goldman Sachs Group Inc. now owns 569,116 shares of the company’s stock worth $105,276,000 after buying an additional 184,835 shares in the last quarter. 84.74% of the stock is owned by hedge funds and other institutional investors.

About Casey’s General Stores

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Casey’s General Stores, Inc engages in the management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.