Casey’s General Stores (NASDAQ:CASY) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Casey’s General Stores (NASDAQ:CASY) had its price target raised by equities researchers at BMO Capital Markets from $450.00 to $515.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “market perform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 1.58% from the company’s previous close.

CASY has been the topic of a number of other reports. Wells Fargo & Company raised their price target on shares of Casey’s General Stores from $460.00 to $540.00 and gave the company an “overweight” rating in a research note on Wednesday. KeyCorp raised their target price on shares of Casey’s General Stores from $500.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday. Gordon Haskett raised shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Royal Bank of Canada set a $438.00 price target on Casey’s General Stores and gave the company a “sector perform” rating in a research note on Wednesday, March 12th. Finally, Stephens reissued an “overweight” rating and set a $490.00 price objective on shares of Casey’s General Stores in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $453.00.

Casey’s General Stores Stock Up 1.5%

NASDAQ CASY opened at $506.99 on Wednesday. The business has a fifty day moving average price of $451.87 and a two-hundred day moving average price of $425.81. The stock has a market capitalization of $18.82 billion, a PE ratio of 35.33, a PEG ratio of 2.40 and a beta of 0.65. Casey’s General Stores has a fifty-two week low of $350.52 and a fifty-two week high of $509.08. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.88 and a quick ratio of 0.49.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Monday, June 9th. The company reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.69. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.95 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey’s General Stores’s revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.34 EPS. Equities analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Casey’s General Stores news, insider Katrina S. Lindsey sold 250 shares of the stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $437.01, for a total transaction of $109,252.50. Following the completion of the sale, the insider now owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This represents a 9.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.56% of the company’s stock.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in Casey’s General Stores in the first quarter valued at $25,000. Global Financial Private Client LLC raised its position in shares of Casey’s General Stores by 325.0% in the 1st quarter. Global Financial Private Client LLC now owns 68 shares of the company’s stock worth $30,000 after acquiring an additional 52 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of Casey’s General Stores in the 1st quarter valued at about $32,000. Iron Horse Wealth Management LLC lifted its stake in shares of Casey’s General Stores by 40.0% in the 1st quarter. Iron Horse Wealth Management LLC now owns 91 shares of the company’s stock valued at $40,000 after purchasing an additional 26 shares during the period. Finally, WPG Advisers LLC bought a new stake in shares of Casey’s General Stores during the 1st quarter valued at about $47,000. 85.63% of the stock is owned by institutional investors.

About Casey’s General Stores

Casey’s General Stores, Inc engages in the provision of 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.