Casey’s General Stores (NASDAQ:CASY) Given New $165.00 Price Target at Wells Fargo & Co

Casey’s General Stores (NASDAQ:CASY) had its price target boosted by research analysts at Wells Fargo & Co from $145.00 to $165.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm presently has a “market perform” rating on the stock. Wells Fargo & Co‘s target price indicates a potential downside of 3.49% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. G.Research cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. BidaskClub cut Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, September 4th. Stephens lifted their target price on Casey’s General Stores from $143.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, June 13th. Barclays lifted their target price on Casey’s General Stores from $123.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 12th. Finally, Zacks Investment Research cut Casey’s General Stores from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Casey’s General Stores presently has a consensus rating of “Hold” and an average target price of $172.00.

NASDAQ:CASY traded up $1.16 during trading hours on Wednesday, hitting $170.96. 4,795 shares of the company traded hands, compared to its average volume of 388,886. The company has a quick ratio of 0.23, a current ratio of 0.76 and a debt-to-equity ratio of 0.88. The firm’s 50-day simple moving average is $167.08 and its 200-day simple moving average is $145.70. Casey’s General Stores has a one year low of $116.23 and a one year high of $173.31. The company has a market cap of $6.34 billion, a PE ratio of 30.97, a PEG ratio of 3.24 and a beta of 0.55.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings data on Monday, September 9th. The company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.28. Casey’s General Stores had a return on equity of 15.55% and a net margin of 2.34%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.59 billion. During the same period last year, the business earned $1.90 EPS. The business’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts expect that Casey’s General Stores will post 6.04 EPS for the current year.

In related news, SVP Brian Joseph Johnson sold 4,000 shares of Casey’s General Stores stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $156.48, for a total value of $625,920.00. Following the completion of the sale, the senior vice president now owns 14,817 shares of the company’s stock, valued at approximately $2,318,564.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director H Lynn Horak sold 3,000 shares of Casey’s General Stores stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $154.55, for a total value of $463,650.00. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Casey’s General Stores by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,732,899 shares of the company’s stock worth $582,295,000 after acquiring an additional 76,321 shares during the last quarter. BlackRock Inc. grew its holdings in Casey’s General Stores by 2.0% during the 2nd quarter. BlackRock Inc. now owns 3,289,827 shares of the company’s stock valued at $513,180,000 after buying an additional 65,801 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Casey’s General Stores by 2.0% during the 1st quarter. Clearbridge Investments LLC now owns 1,425,212 shares of the company’s stock valued at $183,525,000 after buying an additional 28,550 shares in the last quarter. Carillon Tower Advisers Inc. grew its holdings in Casey’s General Stores by 29.1% during the 2nd quarter. Carillon Tower Advisers Inc. now owns 830,521 shares of the company’s stock valued at $129,553,000 after buying an additional 187,330 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Casey’s General Stores by 10.1% during the 2nd quarter. Victory Capital Management Inc. now owns 447,014 shares of the company’s stock valued at $69,730,000 after buying an additional 40,998 shares in the last quarter. 87.60% of the stock is owned by institutional investors.

Casey’s General Stores Company Profile

Casey's General Stores, Inc, together with its subsidiaries, operates convenience stores under the Casey's and Casey's General Store names. The company's stores offer a selection of food, including freshly prepared foods, such as pizza, donuts, and sandwiches; beverage and tobacco products; health and beauty aids; automotive products; school supplies, housewares, and pet supplies; and other nonfood items.

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Analyst Recommendations for Casey`s General Stores (NASDAQ:CASY)

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