BMO Capital Markets Reaffirms “Market Perform” Rating for Casey’s General Stores (NASDAQ:CASY)

Casey’s General Stores (NASDAQ:CASY)‘s stock had its “market perform” rating reiterated by equities research analysts at BMO Capital Markets in a note issued to investors on Wednesday, MarketBeat Ratings reports. They presently have a $450.00 target price on the stock, up from their previous target price of $400.00. BMO Capital Markets’ target price suggests a potential upside of 9.98% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Gordon Haskett assumed coverage on Casey’s General Stores in a research note on Monday, November 4th. They issued a “hold” rating and a $400.00 price target on the stock. Melius Research initiated coverage on shares of Casey’s General Stores in a research note on Monday, September 23rd. They issued a “buy” rating and a $435.00 price target on the stock. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 13th. Royal Bank of Canada raised their target price on shares of Casey’s General Stores from $403.00 to $428.00 and gave the company a “sector perform” rating in a research report on Tuesday, December 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Casey’s General Stores from $451.00 to $454.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $424.00.

Casey’s General Stores Trading Up 0.7 %

CASY opened at $409.15 on Wednesday. The stock has a market capitalization of $15.19 billion, a price-to-earnings ratio of 28.51 and a beta of 0.80. The company has a quick ratio of 0.44, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. Casey’s General Stores has a twelve month low of $268.07 and a twelve month high of $439.68. The company has a 50-day simple moving average of $407.76 and a 200 day simple moving average of $383.76.

Casey’s General Stores (NASDAQ:CASY) last issued its earnings results on Monday, December 9th. The company reported $4.85 EPS for the quarter, beating the consensus estimate of $4.29 by $0.56. The company had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $4.03 billion. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.24 EPS. Analysts predict that Casey’s General Stores will post 14.28 EPS for the current fiscal year.

Insider Transactions at Casey’s General Stores

In related news, insider Katrina S. Lindsey sold 450 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $427.13, for a total value of $192,208.50. Following the sale, the insider now directly owns 2,247 shares in the company, valued at $959,761.11. This represents a 16.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.56% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CASY. Fifth Third Bancorp boosted its position in Casey’s General Stores by 18.6% during the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock valued at $646,000 after acquiring an additional 266 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in shares of Casey’s General Stores by 28.7% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 3,087 shares of the company’s stock valued at $1,178,000 after purchasing an additional 688 shares during the period. &PARTNERS acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $443,000. Highland Capital Management LLC acquired a new position in shares of Casey’s General Stores in the 2nd quarter valued at about $4,899,000. Finally, WD Rutherford LLC lifted its stake in shares of Casey’s General Stores by 24.9% in the 2nd quarter. WD Rutherford LLC now owns 8,090 shares of the company’s stock valued at $3,087,000 after purchasing an additional 1,614 shares during the period. Institutional investors and hedge funds own 85.63% of the company’s stock.

About Casey’s General Stores

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.