KeyCorp Raises Casey’s General Stores (NASDAQ:CASY) Price Target to $550.00

Casey’s General Stores (NASDAQ:CASY) had its price target boosted by investment analysts at KeyCorp from $500.00 to $550.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price target would indicate a potential upside of 8.48% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company increased 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. Wall Street Zen cut shares of Casey’s General Stores from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Evercore ISI increased their target price on shares of Casey’s General Stores from $450.00 to $460.00 and gave the company an “outperform” rating in a research report on Tuesday, April 1st. Royal Bank of Canada set a $438.00 price target on shares of Casey’s General Stores and gave the company a “sector perform” rating in a research report on Wednesday, March 12th. Finally, Stephens restated an “overweight” rating and issued a $490.00 price objective on shares of Casey’s General Stores in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $453.00.

Casey’s General Stores Stock Up 1.5%

Shares of NASDAQ CASY opened at $506.99 on Wednesday. The business has a 50-day moving average of $451.87 and a two-hundred day moving average of $425.81. The company has a market capitalization of $18.82 billion, a price-to-earnings ratio of 35.33, a price-to-earnings-growth ratio of 2.40 and a beta of 0.65. Casey’s General Stores has a 1 year low of $350.52 and a 1 year 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 issued its earnings results on Monday, June 9th. The company reported $2.63 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.69. The business had revenue of $3.99 billion for the quarter, compared to analyst estimates of $3.95 billion. Casey’s General Stores had a return on equity of 17.17% and a net margin of 3.57%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $2.34 EPS. On average, analysts forecast that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Activity

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 stock was 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 directly owns 2,443 shares of the company’s stock, valued at approximately $1,067,615.43. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Versant Capital Management Inc acquired a new stake in shares of Casey’s General Stores during the first quarter worth $25,000. Global Financial Private Client LLC increased its stake in 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 valued at $30,000 after buying an additional 52 shares during the period. Summit Securities Group LLC purchased a new position in Casey’s General Stores during the 1st quarter worth $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 worth $40,000 after acquiring an additional 26 shares during the period. Finally, WPG Advisers LLC acquired a new stake in shares of Casey’s General Stores in the 1st quarter worth $47,000. Institutional investors and hedge funds own 85.63% of the company’s stock.

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.