Casey’s General Stores (NASDAQ:CASY – Get Free Report) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday.

Several other equities research analysts have also recently issued reports on the company. Benchmark raised their target price on Casey’s General Stores from $275.00 to $312.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Royal Bank of Canada lifted their price objective on Casey’s General Stores from $275.00 to $284.00 and gave the company a “sector perform” rating in a research note on Tuesday, September 12th. Stephens reiterated an “overweight” rating and issued a $280.00 target price on shares of Casey’s General Stores in a report on Tuesday, September 12th. Wells Fargo & Company lifted their target price on Casey’s General Stores from $260.00 to $285.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Finally, BMO Capital Markets lifted their target price on Casey’s General Stores from $270.00 to $290.00 and gave the company an “outperform” rating in a report on Wednesday, September 13th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $277.22.

Read Our Latest Report on CASY

Casey’s General Stores Stock Down 0.3 %

Shares of CASY opened at $274.68 on Thursday. Casey’s General Stores has a 52 week low of $202.13 and a 52 week high of $286.62. The company has a quick ratio of 0.64, a current ratio of 1.09 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $10.24 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.30 and a beta of 0.76. The stock’s 50-day moving average price is $273.93 and its 200-day moving average price is $254.37.

Casey’s General Stores (NASDAQ:CASY – Get Free Report) last issued its quarterly earnings results on Tuesday, September 12th. The company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.36 by $1.16. Casey’s General Stores had a return on equity of 17.10% and a net margin of 3.19%. The company had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.90 billion. During the same quarter in the prior year, the business posted $4.09 earnings per share. Casey’s General Stores’s revenue for the quarter was down 13.1% on a year-over-year basis. On average, sell-side analysts predict that Casey’s General Stores will post 11.76 EPS for the current year.

Institutional Trading of Casey’s General Stores

Large investors have recently added to or reduced their stakes in the stock. Alaska Permanent Fund Corp bought a new position in shares of Casey’s General Stores during the second quarter worth about $25,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Casey’s General Stores by 100.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 106 shares of the company’s stock valued at $26,000 after buying an additional 53 shares during the period. Money Concepts Capital Corp boosted its stake in shares of Casey’s General Stores by 62.7% during the 4th quarter. Money Concepts Capital Corp now owns 122 shares of the company’s stock valued at $27,000 after buying an additional 47 shares during the period. Global Retirement Partners LLC lifted its stake in shares of Casey’s General Stores by 49.4% in the 2nd quarter. Global Retirement Partners LLC now owns 124 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Finally, Sunbelt Securities Inc. raised its holdings in Casey’s General Stores by 46.6% in the 2nd quarter. Sunbelt Securities Inc. now owns 129 shares of the company’s stock worth $31,000 after acquiring an additional 41 shares during the period. 85.43% of the stock is currently owned by institutional investors and hedge funds.

About Casey’s General Stores (Get 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 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.

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Original: MarketBeat News Feed: Casey’s General Stores (NASDAQ:CASY) Downgraded by StockNews.com to Buy