Casey’s General Stores (NASDAQ:CASY) Given Sector Perform Rating at Royal Bank of Canada

Casey’s General Stores (NASDAQ:CASY)‘s stock had its “sector perform” rating restated by research analysts at Royal Bank of Canada in a research note issued to investors on Monday, Benzinga reports. They presently have a $393.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 1.29% from the stock’s current price.

CASY has been the subject of a number of other research reports. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 24th. Benchmark reaffirmed a “buy” rating and issued a $410.00 price target on shares of Casey’s General Stores in a report on Wednesday, July 24th. Evercore ISI raised their price target on shares of Casey’s General Stores from $405.00 to $410.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. BMO Capital Markets raised their price target on shares of Casey’s General Stores from $305.00 to $400.00 and gave the stock a “market perform” rating in a report on Thursday, June 13th. Finally, Jefferies Financial Group increased their price objective on shares of Casey’s General Stores from $342.00 to $445.00 and gave the stock a “buy” rating in a research note on Wednesday, June 12th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Casey’s General Stores currently has an average rating of “Moderate Buy” and a consensus price target of $404.78.

Casey’s General Stores Stock Down 0.8 %

Shares of NASDAQ:CASY traded down $3.18 during trading hours on Monday, hitting $387.98. The company’s stock had a trading volume of 45,437 shares, compared to its average volume of 287,825. Casey’s General Stores has a 52 week low of $238.44 and a 52 week high of $401.07. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.87 and a quick ratio of 0.42. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 29.05, a P/E/G ratio of 2.83 and a beta of 0.80. The firm’s fifty day moving average price is $360.95 and its 200 day moving average price is $323.84.

Casey’s General Stores (NASDAQ:CASY) last posted its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 EPS for the quarter, beating the consensus estimate of $1.70 by $0.64. Casey’s General Stores had a net margin of 3.38% and a return on equity of 17.25%. The business had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Casey’s General Stores will post 14.2 EPS for the current year.

Institutional Investors Weigh In On Casey’s General Stores

A number of institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Casey’s General Stores by 1.4% during the first quarter. Janus Henderson Group PLC now owns 768,060 shares of the company’s stock valued at $244,592,000 after acquiring an additional 10,841 shares during the last quarter. Norges Bank acquired a new stake in shares of Casey’s General Stores during the fourth quarter valued at about $115,799,000. Congress Asset Management Co. MA acquired a new stake in shares of Casey’s General Stores during the first quarter valued at about $112,081,000. Principal Financial Group Inc. grew its holdings in shares of Casey’s General Stores by 113.0% in the first quarter. Principal Financial Group Inc. now owns 291,838 shares of the company’s stock valued at $92,936,000 after purchasing an additional 154,803 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Casey’s General Stores by 561.7% in the fourth quarter. Point72 Asset Management L.P. now owns 273,168 shares of the company’s stock valued at $75,050,000 after purchasing an additional 231,887 shares in the last quarter. 85.63% of the stock is currently owned by institutional investors and hedge funds.

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.