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Analysts’ Ratings Didn’t Change after Casey’s 1Q18 Results

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Nov. 20 2020, Updated 2:42 p.m. ET

Market reacted to Casey’s 1Q18 results

Casey’s General Stores’ (CASY) stock price rose 1.6% and closed at $106.49 on September 6. The company delivered an earnings beat with its 1Q18 results. However, Casey’s continues to sit at a YTD (year-to-date) loss of more than 10%.

In comparison, convenience store player Murphy USA (MUSA) managed to be in the green with YTD gains of 5.1%.

Supermarket players have delivered a mixed performance this year. While the stock prices of supermarket chains Kroger (KR) and Supervalu (SVU) have fallen 35% and 39% YTD, organic and natural food retailer Sprouts Farmers Market (SFM) has risen 8.5% to date.

Mass merchandisers Walmart (WMT) and Costco (COST) have risen 16% and ~3%, respectively.

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Analysts’ recommendations

Analysts didn’t change their recommendations after Casey’s 1Q18 results. The company continues to be rated a 2.3 on a scale of one (strong buy) to 5 (sell).

Casey’s is covered by 13 Wall Street analysts. It received 46% “buy” ratings, 54% “hold” ratings, and no “sell” ratings. William Blair, Jefferies, and Bank of America recommend buying the stock, while Barclays and RBC Capital suggested holding the stock.

The average target price for Casey stock is $117.36, which indicates an upside potential of ~10% over the next 12 months.

Investors looking to invest in Casey’s through ETFs can consider the First Trust Nasdaq Retail ETF (FTXD). Casey’s has a weight of ~3.5% in FTXD.

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