KeyCorp Initiates Coverage on Casey's General Stores (NASDAQ:CASY)

Stock analysts at KeyCorp started coverage on shares of Casey's General Stores (NASDAQ:CASY - Get Free Report) in a report issued on Friday, MarketBeat reports. The brokerage set an "overweight" rating and a $500.00 price target on the stock. KeyCorp's price objective suggests a potential upside of 7.66% from the stock's previous close.

Several other analysts also recently weighed in on CASY. Stephens upgraded Casey's General Stores to a "strong-buy" rating in a report on Monday, April 7th. StockNews.com cut shares of Casey's General Stores from a "buy" rating to a "hold" rating in a research report on Saturday, March 8th. Royal Bank of Canada set a $438.00 price objective on shares of Casey's General Stores and gave the company a "sector perform" rating in a report on Wednesday, March 12th. BMO Capital Markets restated a "market perform" rating and set a $450.00 target price (up previously from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Finally, Gordon Haskett raised Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

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Casey's General Stores Trading Up 0.8 %

Casey's General Stores stock traded up $3.63 during trading hours on Friday, hitting $464.41. The company had a trading volume of 460,338 shares, compared to its average volume of 284,812. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.49 and a current ratio of 0.88. The firm has a market cap of $17.24 billion, a P/E ratio of 32.36, a P/E/G ratio of 2.40 and a beta of 0.74. The company has a 50-day moving average price of $419.06 and a two-hundred day moving average price of $408.60. Casey's General Stores has a 1 year low of $306.69 and a 1 year high of $468.00.

Casey's General Stores (NASDAQ:CASY - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $2.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. Casey's General Stores's quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.33 earnings per share. On average, sell-side analysts anticipate that Casey's General Stores will post 13.94 earnings per share for the current year.

Insider Transactions at Casey's General Stores

In other Casey's General Stores news, Director Mike Spanos bought 256 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was bought at an average cost of $390.54 per share, for a total transaction of $99,978.24. Following the completion of the transaction, the director now directly owns 3,356 shares of the company's stock, valued at approximately $1,310,652.24. This trade represents a 8.26 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Katrina S. Lindsey sold 250 shares of the firm's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $437.01, for a total value of $109,252.50. Following the sale, the insider now directly owns 2,443 shares in the company, valued at approximately $1,067,615.43. This trade represents a 9.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.56% of the company's stock.

Institutional Trading of Casey's General Stores

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Casey's General Stores by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,799,104 shares of the company's stock valued at $1,505,319,000 after acquiring an additional 44,295 shares during the period. T. Rowe Price Investment Management Inc. raised its stake in shares of Casey's General Stores by 1.8% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,776,323 shares of the company's stock worth $703,833,000 after buying an additional 31,131 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Casey's General Stores by 18.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 758,804 shares of the company's stock valued at $285,090,000 after buying an additional 119,350 shares in the last quarter. Franklin Resources Inc. grew its stake in Casey's General Stores by 29.5% in the 4th quarter. Franklin Resources Inc. now owns 678,778 shares of the company's stock valued at $268,952,000 after acquiring an additional 154,541 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Casey's General Stores by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 655,488 shares of the company's stock worth $246,335,000 after acquiring an additional 8,428 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

Casey's General Stores Company Profile

Casey's General Stores, Inc engages in the provision of management and operation of convenience stores and gasoline stations. It provides self-service gasoline, a wide selection of grocery items, and an array of freshly prepared food items. The firm offers food, beverages, tobacco products, health and beauty aids, automotive products, and other non-food items.