Stock of The Day: Is Major Move Coming For Casey’s General Stores Inc After This Gap Up?

Stock of The Day: Is Major Move Coming For Casey's General Stores Inc After This Gap Up?

The stock of Casey’s General Stores Inc (NASDAQ:CASY) gapped up by $0.87 today and has $171.81 target or 43.00% above today’s $120.15 share price. The 5 months technical chart setup indicates low risk for the $4.66B company. The gap was reported on Oct, 1 by Barchart.com. If the $171.81 price target is reached, the company will be worth $2.00B more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 4.40% or $5.06 during the last trading session, hitting $120.15. About 1.12M shares traded hands or 98.13% up from the average. Casey’s General Stores Inc (NASDAQ:CASY) has risen 13.81% since February 29, 2016 and is uptrending. It has outperformed by 3.39% the S&P500.

Casey’s General Stores Inc (NASDAQ:CASY) Ratings Coverage

Out of 8 analysts covering Casey’s General Stores (NASDAQ:CASY), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Casey’s General Stores has been the topic of 25 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The rating was upgraded by BMO Capital Markets on Friday, September 11 to “Market Perform”. The firm earned “Hold” rating on Thursday, September 10 by Deutsche Bank. On Thursday, September 1 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Casey’s General Stores Inc (NASDAQ:CASY) earned “Hold” rating by Jefferies on Wednesday, June 8. The rating was maintained by Jefferies with “Hold” on Monday, August 22. Deutsche Bank maintained Casey’s General Stores Inc (NASDAQ:CASY) rating on Friday, August 19. Deutsche Bank has “Buy” rating and $141 price target. Jefferies upgraded the shares of CASY in a report on Friday, September 30 to “Buy” rating. Deutsche Bank upgraded Casey’s General Stores Inc (NASDAQ:CASY) rating on Wednesday, March 30. Deutsche Bank has “Buy” rating and $130 price target. The stock of Casey’s General Stores Inc (NASDAQ:CASY) has “Buy” rating given on Wednesday, August 26 by Zacks. The rating was initiated by Barclays Capital with “Equal-Weight” on Friday, September 23.

According to Zacks Investment Research, “Casey’s General Stores, Inc. operate convenience stores under the name Casey’s General Store in Midwestern states, primarily Iowa, Missouri and Illinois. The stores carry a broad selection of food (including freshly prepared foods such as pizza, donuts and sandwiches), beverages, tobacco products, health and beauty aids, automotive products and other non-food items. In addition, all stores offer gasoline for sale on a self-service basis.”

Insitutional Activity: The institutional sentiment decreased to 0.94 in Q2 2016. Its down 0.45, from 1.39 in 2016Q1. The ratio worsened, as 37 funds sold all Casey’s General Stores Inc shares owned while 124 reduced positions. 57 funds bought stakes while 94 increased positions. They now own 31.66 million shares or 12.09% less from 36.01 million shares in 2016Q1.
Mitchell Sinkler Starr Pa last reported 0.31% of its portfolio in the stock. Manufacturers Life Insur Com The accumulated 52,777 shares or 0.01% of the stock. Ameriprise Inc owns 151,729 shares or 0.01% of their US portfolio. Advsrs Asset Mgmt, a Colorado-based fund reported 1,000 shares. Utah Retirement Sys has invested 0.03% of its portfolio in Casey’s General Stores Inc (NASDAQ:CASY). Royal Comml Bank Of Canada has 0.03% invested in the company for 416,192 shares. Shelton Capital holds 0.04% or 3,675 shares in its portfolio. Moreover, State Of New Jersey Common Pension Fund D has 0.19% invested in Casey’s General Stores Inc (NASDAQ:CASY) for 320,000 shares. Eagle Asset Mgmt owns 674,082 shares or 0.61% of their US portfolio. Rhumbline Advisers owns 76,957 shares or 0.03% of their US portfolio. Moreover, Tudor Inv Corporation Et Al has 0.01% invested in Casey’s General Stores Inc (NASDAQ:CASY) for 4,300 shares. Hanseatic Mgmt Service accumulated 0.73% or 14,627 shares. Comerica Bank has 54,678 shares for 0.06% of their US portfolio. Driehaus Mgmt Limited Liability Company has invested 0.09% of its portfolio in Casey’s General Stores Inc (NASDAQ:CASY). Burns J W And Communication Inc Ny has 0.65% invested in the company for 16,323 shares.

Insider Transactions: Since June 13, 2016, the stock had 1 insider purchase, and 3 insider sales for $2.60 million net activity. On Monday, June 13 the insider HANDLEY TERRY W sold $1.78M. Wilkey Richard A had bought 340 shares worth $40,052 on Wednesday, September 21. Shares for $383,250 were sold by Jackowski Julia L on Wednesday, June 29. Lamberti Jeffrey M also sold $476,480 worth of Casey’s General Stores Inc (NASDAQ:CASY) on Monday, June 13.

More important recent Casey’s General Stores Inc (NASDAQ:CASY) news were published by: Fool.com which released: “Why Casey’s General Stores Inc. Stock Plunged Today” on September 07, 2016, also Forbes.com published article titled: “Casey’s General Stores Becomes Oversold (CASY)”, Seekingalpha.com published: “CASY: Poor Disclosure Obscures Value Of Real Estate” on September 30, 2016. More interesting news about Casey’s General Stores Inc (NASDAQ:CASY) was released by: Benzinga.com and their article: “Casey’s General Stores Not Immune To Grocery Headwinds” with publication date: September 09, 2016.

CASY Company Profile

Casey’s General Stores, Inc., incorporated on December 13, 1967, and its subsidiaries, operate convenience stores under the name Casey’s General Store in approximately 10 Midwestern states, in Iowa, Missouri, and Illinois. The Firm also operates approximately two stores selling primarily tobacco products. The stores carry a range of food, including freshly prepared foods such as pizza, donuts, and sandwiches, beverages, tobacco products, health and beauty aids, automotive products and other nonfood items. As of April 30, 2016, the Company operated 1,931 stores. The Firm operates approximately two distribution centers, through which the Company supply grocery and general merchandise items to its stores.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Leave a Comment