New Lifetime High For Casey's General Stores (CASY)

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.

Trade-Ideas LLC identified Casey's General Stores ( CASY) as a new lifetime high candidate. In addition to specific proprietary factors, Trade-Ideas identified Casey's General Stores as such a stock due to the following factors:

  • CASY has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $27.8 million.
  • CASY has traded 43,106 shares today.
  • CASY is trading at a new lifetime high.

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More details on CASY:

Casey's General Stores, Inc., together with its subsidiaries, operates convenience stores under the Casey's General Store name in 14 Midwestern states, primarily Iowa, Missouri, and Illinois. The stock currently has a dividend yield of 0.9%. CASY has a PE ratio of 22. Currently there are 3 analysts that rate Casey's General Stores a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Casey's General Stores has been 279,200 shares per day over the past 30 days. Casey's General Stores has a market cap of $3.4 billion and is part of the services sector and retail industry. The stock has a beta of 0.68 and a short float of 2% with 3.70 days to cover. Shares are down 2.9% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Casey's General Stores as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • CASEYS GENERAL STORES INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, CASEYS GENERAL STORES INC increased its bottom line by earning $3.27 versus $2.86 in the prior year. This year, the market expects an improvement in earnings ($4.49 versus $3.27).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Food & Staples Retailing industry. The net income increased by 210.7% when compared to the same quarter one year prior, rising from $12.65 million to $39.32 million.
  • Net operating cash flow has significantly increased by 122.51% to $56.47 million when compared to the same quarter last year. In addition, CASEYS GENERAL STORES INC has also vastly surpassed the industry average cash flow growth rate of -25.77%.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Food & Staples Retailing industry and the overall market on the basis of return on equity, CASEYS GENERAL STORES INC has underperformed in comparison with the industry average, but has exceeded that of the S&P 500.

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