Casey’s General Stores Inc. (NASDAQ:CASY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Casey’s General Stores, Inc. operate convenience stores under the name Casey’s General Store in Midwestern states, primarily Iowa, Missouri and Illinois. The stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts and sandwiches), beverages, tobacco products, health and beauty aids, automotive products and other non-food items. In addition, all stores offer gasoline for sale on a self-service basis. “

Several other research firms have also recently weighed in on CASY. Goldman Sachs Group Inc. upped their target price on Casey’s General Stores from $145.00 to $149.00 and gave the stock a “buy” rating in a research note on Tuesday, September 6th. Jefferies Group upgraded Casey’s General Stores from a “hold” rating to a “buy” rating and set a $134.00 target price for the company in a research note on Friday, September 30th. Royal Bank Of Canada upped their target price on Casey’s General Stores from $139.00 to $145.00 and gave the stock an “outperform” rating in a research note on Thursday, September 1st. Barclays PLC initiated coverage on Casey’s General Stores in a research note on Thursday, September 22nd. They set an “equal weight” rating and a $116.00 target price for the company. Finally, Deutsche Bank AG upped their target price on Casey’s General Stores from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Casey’s General Stores currently has a consensus rating of “Buy” and an average price target of $135.30.

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

Casey’s General Stores (NASDAQ:CASY) opened at 120.45 on Tuesday. Casey’s General Stores has a 52-week low of $98.80 and a 52-week high of $136.22. The company’s 50 day moving average price is $117.10 and its 200 day moving average price is $123.19. The company has a market cap of $4.72 billion, a P/E ratio of 20.55 and a beta of 0.41.

Casey’s General Stores (NASDAQ:CASY) last issued its quarterly earnings results on Tuesday, September 6th. The company reported $1.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by $0.11. The company earned $1.97 billion during the quarter. Casey’s General Stores had a net margin of 3.29% and a return on equity of 21.62%. The company’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.57 EPS. Equities research analysts anticipate that Casey’s General Stores will post $5.58 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 15th. Investors of record on Tuesday, November 1st were issued a $0.24 dividend. The ex-dividend date was Friday, October 28th. This represents a $0.96 dividend on an annualized basis and a yield of 0.80%. Casey’s General Stores’s payout ratio is 16.38%.

COPYRIGHT VIOLATION NOTICE: “Zacks Investment Research Upgrades Casey’s General Stores Inc. (CASY) to “Hold”” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark laws. The correct version of this report can be read at https://www.thecerbatgem.com/2016/12/01/zacks-investment-research-upgrades-caseys-general-stores-inc-casy-to-hold.html.

In related news, Director Richard A. Wilkey acquired 340 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was acquired at an average cost of $117.80 per share, for a total transaction of $40,052.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $1,767,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.30% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in Casey’s General Stores during the first quarter worth $16,292,000. Envestnet Asset Management Inc. increased its stake in Casey’s General Stores by 14.4% in the first quarter. Envestnet Asset Management Inc. now owns 10,428 shares of the company’s stock worth $1,182,000 after buying an additional 1,314 shares during the last quarter. Arizona State Retirement System increased its stake in Casey’s General Stores by 3.6% in the first quarter. Arizona State Retirement System now owns 20,110 shares of the company’s stock worth $2,279,000 after buying an additional 700 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Casey’s General Stores during the first quarter worth $1,511,000. Finally, First Republic Investment Management Inc. bought a new stake in Casey’s General Stores during the first quarter worth $838,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

About Casey’s General Stores

Casey’s General Stores, Inc and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Company also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items.

5 Day Chart for NASDAQ:CASY

Receive News & Stock Ratings for Casey's General Stores Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Casey's General Stores Inc. and related stocks with our FREE daily email newsletter.