NEW YORK (TheStreet) -- Casey's General Store (CASY - Get Report) stock increased by 4.57% to $125.49 on heavy trading volume on Tuesday, after the company's fiscal 2016 second quarter earnings results beat analysts' expectations.
After the market close on Monday, the Ankeny, IA-based convenience store company reported earnings of $2 per share, topping analysts' forecasts for earnings of $1.50 per share.
Revenue fell to $1.92 billion, down from $2.1 billion in the year-ago period. Analysts were expecting the company to report earnings of $1.95 billion for the latest quarter.
The company is on track to build about 50 stores and remodel about 100 stores by the end of fiscal 2016.
"We will continue to remain patient with acquisitions and remain optimistic about our long-term growth opportunities as our second distribution center becomes operational in February 2016," CEO Robert J. Myers. said in a statement.
As of the market close on Tuesday, 1.05 million shares of Casey's have traded, versus its 30-day average of about 302,000 shares.
Separately, TheStreet Ratings team rates CASEYS GENERAL STORES INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
We rate CASEYS GENERAL STORES INC (CASY) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, notable return on equity and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins.
You can view the full analysis from the report here: CASYCASY data by YCharts