Casey's General Stores (NASDAQ:CASY) Upgraded by KeyCorp to Strong-Buy Rating

Casey's General Stores (NASDAQ:CASY - Get Free Report) was upgraded by stock analysts at KeyCorp to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Several other research firms also recently weighed in on CASY. Evercore ISI lifted their target price on shares of Casey's General Stores from $450.00 to $460.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st. Royal Bank of Canada set a $438.00 price target on shares of Casey's General Stores and gave the stock a "sector perform" rating in a report on Wednesday, March 12th. BMO Capital Markets reaffirmed a "market perform" rating and issued a $450.00 price target (up from $400.00) on shares of Casey's General Stores in a report on Wednesday, December 18th. Gordon Haskett upgraded Casey's General Stores from a "hold" rating to a "buy" rating in a research report on Thursday, February 13th. Finally, Stephens upgraded shares of Casey's General Stores to a "strong-buy" rating in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $430.33.

Casey's General Stores Trading Down 1.5 %

NASDAQ:CASY traded down $7.08 on Thursday, hitting $457.33. The stock had a trading volume of 346,641 shares, compared to its average volume of 284,159. The company has a fifty day moving average price of $419.64 and a two-hundred day moving average price of $408.98. Casey's General Stores has a 1-year low of $306.69 and a 1-year high of $468.00. The company has a quick ratio of 0.49, a current ratio of 0.88 and a debt-to-equity ratio of 0.74. The stock has a market cap of $16.98 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.40 and a beta of 0.74.

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Casey's General Stores (NASDAQ:CASY - Get Free Report) last posted its earnings results on Tuesday, March 11th. The company reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.57. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.74 billion. Casey's General Stores had a return on equity of 17.17% and a net margin of 3.57%. The company's revenue for the quarter 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. Equities research analysts expect that Casey's General Stores will post 13.94 earnings per share for the current fiscal year.

Insider Activity at Casey's General Stores

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

Institutional Trading of Casey's General Stores

A number of institutional investors and hedge funds have recently bought and sold shares of CASY. Raymond James Financial Inc. acquired a new stake in shares of Casey's General Stores in the fourth quarter worth $236,500,000. GAMMA Investing LLC lifted its stake in shares of Casey's General Stores by 54,448.8% during the first quarter. GAMMA Investing LLC now owns 543,852 shares of the company's stock worth $236,054,000 after purchasing an additional 542,855 shares in the last quarter. Norges Bank purchased a new stake in shares of Casey's General Stores in the fourth quarter worth about $175,607,000. Wellington Management Group LLP grew its stake in shares of Casey's General Stores by 160.1% in the fourth quarter. Wellington Management Group LLP now owns 428,201 shares of the company's stock valued at $169,666,000 after buying an additional 263,545 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Casey's General Stores by 49.9% in the third quarter. Franklin Resources Inc. now owns 524,237 shares of the company's stock valued at $204,861,000 after buying an additional 174,586 shares in the last quarter. Institutional investors and hedge funds own 85.63% of the company's stock.

About Casey's General Stores

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.