Casey’s General Stores Stock Just Hit a New All-Time High: Convenience Pays

• Casey’s General Stores (CASY) is trading at a new all-time high.
• Shares are up nearly 70% over the past 52 weeks.
• CASY maintains a 100% “Buy” technical opinion from Barchart.
• Despite analyst optimism and a solid balance sheet, CASY’s elevated P/E suggests current levels may not offer an attractive entry point.

Today’s Featured Stock

Valued at $26.90 billion, Casey’s General Stores (CASY) operates convenience stores under the Casey’s and Casey’s General Store names in Midwestern states, mainly Iowa, Missouri, and Illinois. The company also operates two stores under the name “Tobacco City,” selling primarily tobacco and nicotine products. 

What I’m Watching

I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. CASY checks those boxes. Since the Trend Seeker issued a new “buy” on March 17, CASY stock is up 7.27%.

Barchart Technical Indicators for Casey’s General Stores

Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.

Casey’s scored an all-time high of $744.00 on April 2.

• Casey’s has a Weighted Alpha of +82.49.
• CASY has a 100% “Buy” opinion from Barchart.
• The stock has gained 66.93% over the past 52 weeks.
• Casey’s has its Trend Seeker “Buy” signal intact.
• The stock recently traded at $744 with a 50-day moving average of $668.27.
• CASY has made 7 new highs and gained 7.85% over the past month.
• Relative Strength Index (RSI) is at 69.61.
• There’s a technical support level around $727.38.

Don’t Forget the Fundamentals

• $26.90 billion market capitalization.
• 41.78x price-earnings ratio.
• 0.31% dividend yield.
• Revenue is expected to grow 7.52% this year and another 5.68% next year.
• Earnings are estimated to increase by 23.51% this year and an additional 9.75% next year.

Analyst and Investor Sentiment on Casey’s General Stores

• The Wall Street analysts followed by Barchart gave the stock 10 “Strong Buy” and 8 “Hold” opinions with price targets between $600 and $808.
• Value Line gives the stock its “Highest” rating with price targets from $540 to $992.
• CFRA’s MarketScope rates the stock a “Strong Buy.”
• Morningstar thinks the stock is 28% overvalued with a fair value of $575.27.
• 833 investors following the stock on Motley Fool think it will beat the market while 81 think it won’t.
• 11,750 investors are following the stock on Seeking Alpha which rates it a “Hold.”
• Short interest is only 2.56% of the float with 1.73 days to cover the float.

The Bottom Line on Casey’s General Stores

The company has 2,658 stores selling both gas and convenience items and has a very solid balance sheet. Analysts project growth in both revenue and earnings. If you already own this stock, there is no reason to sell it, but with a 41.78x price-earnings ratio, this might not be a good entry point.

Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.