Casey’s General Stores (NASDAQ:CASY) Price Target Raised to $460.00 at Evercore ISI

Casey’s General Stores (NASDAQ:CASY) had its price target increased by stock analysts at Evercore ISI from $450.00 to $460.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price points to a potential upside of 5.52% from the stock’s current price.

A number of other brokerages have also weighed in on CASY. Gordon Haskett upgraded shares of Casey’s General Stores from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. StockNews.com lowered Casey’s General Stores from a “buy” rating to a “hold” rating in a research report on Saturday, March 8th. Royal Bank of Canada set a $438.00 target price on shares of Casey’s General Stores and gave the stock a “sector perform” rating in a report on Wednesday, March 12th. Finally, BMO Capital Markets restated a “market perform” rating and set a $450.00 price objective (up previously from $400.00) on shares of Casey’s General Stores in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Casey’s General Stores has a consensus rating of “Moderate Buy” and an average target price of $424.00.

Casey’s General Stores Trading Up 0.4 %

Shares of Casey’s General Stores stock traded up $1.92 during trading on Tuesday, reaching $435.96. 29,068 shares of the stock were exchanged, compared to its average volume of 274,794. Casey’s General Stores has a 1 year low of $306.45 and a 1 year high of $445.17. The firm has a market cap of $16.18 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.40 and a beta of 0.87. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $414.20 and its 200 day moving average is $403.56.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, topping the consensus estimate of $1.76 by $0.57. Casey’s General Stores had a net margin of 3.57% and a return on equity of 17.17%. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. During the same period last year, the business posted $2.33 earnings per share. Casey’s General Stores’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts expect that Casey’s General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Transactions at Casey’s General Stores

In other news, Director Mike Spanos purchased 256 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average cost of $390.54 per share, with a total value of $99,978.24. Following the completion of the purchase, the director now directly owns 3,356 shares of the company’s stock, valued at approximately $1,310,652.24. The trade was a 8.26 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in Casey’s General Stores during the fourth quarter worth about $236,500,000. Norges Bank purchased a new stake in Casey’s General Stores in the fourth quarter valued at $175,607,000. Wellington Management Group LLP lifted its stake in shares of Casey’s General Stores by 160.1% in the 4th quarter. Wellington Management Group LLP now owns 428,201 shares of the company’s stock valued at $169,666,000 after purchasing an additional 263,545 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Casey’s General Stores by 49.9% during the 3rd quarter. Franklin Resources Inc. now owns 524,237 shares of the company’s stock worth $204,861,000 after purchasing an additional 174,586 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of Casey’s General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company’s stock worth $285,090,000 after purchasing an additional 119,350 shares during the last quarter. Hedge funds and other institutional investors 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.