May 25, 2023 – Casey’s General Stores, Inc. (NASDAQ:CASY) remains steady as the company garners positive feedback from analysts. Currently, eleven analysts are covering the convenience store chain with a consensus recommendation of “Moderate Buy,” according to Bloomberg Ratings. Of these analysts, one has issued a strong buy rating, while six have given a buy rating, and three have rated the stock as a hold.
Casey’s General Stores offers self-service gasoline alongside grocery items and freshly prepared food items. The company provides various products such as beverages, tobacco products, health and beauty aids, automotive equipment, and other non-food items.
Shares of NASDAQ CASY opened at $229.70 on Thursday with a market cap of $8.56 billion. The company boasts a current ratio of 1.10 and a quick ratio of 0.66 while also maintaining a debt-to-equity ratio of 0.63.
Casey’s General Stores has seen its fair share of ups and downs within the past year with an all-time high share price of $249.90 set in the 52-week period followed by an all-time low share price of $181.40 for that same period. However, despite these fluctuations in share prices maintaining its consistency year after year is remarkable.
Currently averaging at $223.18 for the past fifty days buoyed by effective management strategies. Casey’s General Stores has had an average target price among brokers who’ve reported on it in the last year is set at $260.50 within one year.
The company’s resilience towards external events can be easily attributed to their ability to manage internal operations efficiently without allowing standard deviations due to external factors impact them negatively.
In conclusion, Casey’s General Stores stands firm as it maintains its reputation for being an exceptional convenience store across multiple states within the US over many decades solidifying itself within local communities even further due to them being magnanimous in fulfilling the needs of its patrons. Investing in such a company seems like an excellent decision when considering long-term investment plans as it wields an unbreakable promise for investors with prudent monitoring strategies by reputable brokers and analysts.
[bs_slider_forecast=”CASY”]
Casey’s General Stores Receives Positive Attention from Analysts and Institutional Investors in 2023
Casey’s General Stores, Inc has been receiving a lot of attention in the investment world lately. Analysts have released a number of reports and reviews regarding Casey’s stock in 2023. On March 8th, Stephens reissued an “overweight” rating and set a $280.00 price objective on shares of Casey’s General Stores. Benchmark restated a “buy” rating with a $275.00 price objective on the same date, followed by Royal Bank of Canada upping their price target from $268.00 to $273.00. Later, in May, StockNews.com started coverage on the stock with a “strong-buy” rating while Deutsche Bank Aktiengesellschaft raised their target price from $285.00 to $294.00.
Institutional investors have also been active with Casey’s General Stores recently seeing multiple large purchases and sales of its stock shares. Recent filings show that Toroso Investments LLC acquired a new position in the company during Q1 worth around $469,000 while Putnam Investments LLC added 698 shares during the same quarter boosting its position by approximately 11%. Arete Wealth Advisors LLC bought into the company as well, adding about $2,078,000 of equity; Westover Capital Advisors LLC spent roughly $406,000 for newly acquired stakes and Trivant Custom Portfolio Group LLC acquired shares worth about $96,000 during Q1.
The company operates convenience stores and gas stations featuring self-service gasoline facilities alongside an extensive array of freshly prepared food items and an ever-expanding selection of grocery items, health and beauty aids products as well as automotive goods plus other non-food items too.
Casey’s General Stores’ last posted earnings data came out on March 8th when it reported quarterly earnings per share (EPS) of $2.36 which surpassed analyst expectations by earning $0.53 more than the consensus estimate of $1.83. It was discovered the business currently has a robust return on equity and a net margin of 2.96%. The company’s revenue for Q1 was $3.33 billion narrowly missing analysts’ expectations of $3.35 billion.
The company also recently declared a quarterly dividend which paid out on May 15th to shareholders who were recorded as owning Casey’s stock on May 1st, with an ex-dividend date of April 28th. The annualized dividend of $1.52 provided investors with a yield of 0.66%. Currently, Casey’s General Stores’ dividend payout ratio (DPR) is approximately 12.64%.
All in all, institutional investment firms appear bullish on Casey’s General Stores and analysts believe it will earn over $11 per share throughout the current fiscal year based on current performance data and future growth assessments.
