Casey’s General Stores ( NASDAQ:CASY ) sets new yearly high after beating earnings

Casey’s General Stores, Inc. stock price (NASDAQ:CASY – Get Free Report) hit a new 52-week high during Wednesday’s trading after reporting better-than-expected earnings. The stock was trading at $382.97 and last traded at $378.74 with volume of 236,441 shares traded. Shares earlier closed at $326.53.

The company reported $2.34 earnings per share (EPS) for the quarter, $0.64 above the consensus estimate of $1.70. The company’s revenue for the quarter was $3.60 billion, compared to analyst estimates of $3.47 billion. Casey’s General Stores achieved a net margin of 3.23% and a return on equity of 16.70%. During the same period last year, the company reported earnings per share of $1.49. Casey’s General Stores revenues increased 8.2% compared to the same quarter last year.

Changes in analyst ratings

Several stock analysts have published reports on CASY stock. Benchmark reaffirmed a “buy” rating and set a $312.00 price target for shares of Casey’s General Stores in a report on Wednesday, March 6. Wells Fargo & Company increased their target price on shares of Casey’s General Stores from $305.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, March 5. Deutsche Bank Aktiengesellschaft increased their target price on shares of Casey’s General Stores from $337.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Royal Bank of Canada raised their price target on Casey’s General Stores shares from $322.00 to $361.00 and gave the stock a “sector outperform” rating in a report on Wednesday. Finally, Jefferies Financial Group raised their target price 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. Three analysts have given the company a hold rating, seven have given the company a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the consensus rating for Casey’s General Stores is a “Moderate Buy” and a consensus price target of $345.33.

Download our latest report on Casey’s General Stores

Institutional inflows and outflows

Institutional investors and hedge funds have recently increased or decreased their stakes in the business. Rise Advisors LLC acquired a new position in Casey’s General Stores during the first quarter valued at $30,000. Advisors Asset Management Inc. acquired a new position in Casey’s General Stores during the first quarter worth $32,000. BKM Wealth Management LLC acquired a new position in Casey’s General Stores during the fourth quarter valued at $29,000. V Square Quantitative Management LLC acquired a new position in Casey’s General Stores during the fourth quarter valued at $35,000. Finally, McGlone Suttner Wealth Management Inc. acquired a new position in Casey’s General Stores during the fourth quarter valued at $36,000. 85.63% of the shares are currently held by institutional investors and hedge funds.

Casey’s Convenience Store Inventory Increases 16.7%

The company’s market capitalization is $14.11 billion, price-to-earnings ratio is 30.30, P/E/G ratio is 2.38 and beta is 0.83. The company’s 50-day moving average is $324.17 and its 200-day moving average is $300.57. The company has a quick ratio of 0.42, a current ratio of 0.89 and a debt-to-equity ratio of 0.54.

About Casey’s General Stores

(Get the 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 drinks, water, sports drinks, juices, coffee and tea, and dairy products; beer, wine and spirits; snacks, sweets, packaged bakery products and other food products; ice, ice cream, meals and snacks; health and beauty products, automotive products, electronic accessories, household and pet supplies; and ATMs, lotto/lottery and prepaid cards.

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