Benchmark Reiterates ‘Buy’ Rating for Casey’s General Stores (NASDAQ:CASY)

Casey’s General Stores (NASDAQ:CASY – Get Free Report)Its stock had its “buy” rating reissued by investment analysts at Benchmark in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $410.00 target price on the stock. The benchmark’s price target indicates a potential upside of 15.65% from the company’s previous close.

CASY has been the subject of a number of other research reports. BMO Capital Markets upped their target price 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. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Casey’s General Stores from $420.00 to $444.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company boosted their price objective on shares of Casey’s General Stores from $340.00 to $415.00 and gave the stock an “overweight” rating in a research report on Thursday, June 13th. StockNews.com cut shares of Casey’s General Stores from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 3rd. Finally, Jefferies Financial Group upped 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 report on Wednesday. June 12. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and an average target price of $399.20, according to MarketBeat.com.

Check out our latest report on Casey’s General Stores

Casey’s General Stores Inventory Performance

NASDAQ CASY opened at $354.52 on Tuesday. The company has a quick ratio of 0.42, a current ratio of 0.87, and a debt-to-equity ratio of 0.52. The company has a market cap of $13.16 billion, a P/E ratio of 26.40, a P/E/G ratio of 2.52 and a beta of 0.80. Casey’s General Stores has a 12-month low of $238.44 and a 12-month high of $401.07. The firm has a 50 day moving average price of $373.77 and a two hundred day moving average price of $341.30.

Casey’s General Stores (NASDAQ:CASY – Get Free Report ) last posted its quarterly earnings results on Tuesday, June 11th. The company reported $2.34 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.47 billion. In the same quarter last year, the firm posted EPS of $1.49. The company’s quarterly revenue was up 8.2% year over year. analysts anticipate that Casey’s General Stores will post 14.06 earnings per share for the current year.

Hedge funds influence Casey’s General Stores

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Maven Securities LTD acquired a new position in Casey’s General Stores in the second quarter valued at approximately $382,000. Kestra Investment Management LLC purchased a new position in Casey’s General Stores in the second quarter valued at about $704,000. Cetera Investment Advisers boosted its position in Casey’s General Stores by 7.1% in the second quarter. Cetera Investment Advisers now owns 9,955 shares of the company’s stock valued at $3,798,000 after acquiring an additional 664 shares during the period. Point72 Asset Management LP acquired a new stake in shares of Casey’s General Stores in the second quarter valued at $3,654,000. Finally, Regal Investment Advisors LLC acquired a new stake in shares of Casey’s General Stores in the second quarter worth $300,000. 85.63% of the shares are currently owned by institutional investors and hedge funds.

Casey’s General Stores Company Profile

(Get a free report)

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 offer soft drinks, energy, water, sports drinks, juices, coffee, tea and dairy products; beer, wine and spirits; packaged snacks, candy, bakery and other food products; ice cream, ice cream, meals and appetizers; Health and beauty aids, automotive products, electronic accessories, household goods and pet goods; and ATM, lotto/lottery and prepaid cards.

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