Keybanc Rates Casey's General Stores (CASY) buy
Keybanc reiterates its buy rating on Casey's General Stores, setting a price target of $970, a 10.86% upside from the current price.
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Keybanc rated Casey's General Stores, Inc. ($CASY) "buy" with a $970 price target on June 11, 2026.
Since the rating, $CASY is down 8.1% after 1 week, down 6.2% after 1 month and down 24.7% to date (from the $915.59 close on Jun 11, 2026).
CASY
Casey's General Stores, Inc.
Key Points
- On June 11, 2026, Keybanc reiterated its buy rating for Casey's General Stores, Inc. (NasdaqGS: CASY), with a price target of $970.
- Keybanc's $970 price target implies 10.86% upside from Casey's General Stores, Inc.'s ($CASY) current $875.01 share price.
- The stock closed at $875.01 on the day of the announcement, showing strong performance since it trades well above its 50-day average of $790.01.
- Among 19 analysts covering the stock, the consensus remains a buy with a mean target price around $790.53.
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Keybanc Reiterates Buy Rating
On June 11, 2026, Keybanc reiterated its buy rating for Casey's General Stores, Inc. (NasdaqGS: CASY), setting a price target of $970. The stock closed at $875.01, reflecting good performance in the market.
What Changed in Keybanc's Position
This reiteration follows a series of rating updates from various analysts. Keybanc maintained its previous price target of $970, indicating confidence in the company's growth potential. The firm sees value in Casey's, especially as it operates within the consumer cyclical sector, which includes convenience stores that offer a wide range of food and beverage options.
Analysts Set New Price Targets
Casey's General Stores has received mixed signals from other firms recently. RBC Capital upgraded the stock to Outperform with a new target of $825 on October 15, 2026, down from $910. Evercore ISI Group maintained its Outperform rating but lowered its target to $775 from $880 on September 11, 2026. This contrasts with Keybanc's more optimistic stance, showing varied perspectives among analysts.
Stock Performance and Market Position
At $875.01, Casey's stock is trading above its 50-day moving average of $790.01, suggesting positive momentum. The stock has seen a 52-week range of $497.38 to $927.85, highlighting its volatility and potential for growth. The current price indicates that investors remain optimistic about the company's future performance.
$CASY price target
Casey's General Stores, Inc. daily closes and this analyst's $970 target. Not advice.
Recent Earnings
Casey's General Stores reported strong earnings with revenue at approximately $18.67 billion and an EPS of $20.77. Their net margin of about 4.14% and ROE at 19.98% indicate solid profitability. The next earnings report is scheduled for December 8, 2026, which could provide further insight into its financial health.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
8 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 30.0%. Revenue beat estimates by 4.2%.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 37 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
8 target raises.
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Earnings quality
Gross margin up 2.8 points. Operating margin down 1.3 points. Positive free cash flow.
Earnings Call Summary
Casey's delivered a strong second quarter with revenue of $4.57 billion, up 14 percent year over year, driven by inside sales growth and fuel gallons. The company gained market share in fuel despite a regional decline of 2 percent, benefiting from strong prepared food sales, particularly whole pies and breakfast items. Inside margins improved 20 basis points to 42.4 percent, with prepared food margins of 58.6 percent. Management credited consistent execution, a strong guest value proposition, and improved cost management including lower cheese costs. Traffic increased 1.5 percent, and the company is on track with Cefco integration, planning store conversions to start in the new calendar year.
Guidance Casey's raised its full-year EBITDA growth outlook to 15 to 17 percent, up from prior expectations. Inside same-store sales are now guided to grow 3 to 4 percent, with inside margins expected to be 41 to 42 percent. The company also expects the tax rate to be 24 to 25 percent.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Casey's General Stores, Inc.
Recent insider trading at Casey's includes Chief Legal Officer Katrina Lindsey selling 2,000 shares at an average price of $800 on June 29, 2026, totaling $1.6 million. Additionally, Mike Spanos bought 256 shares at an average price of $778.81 on June 26, 2026. These moves reflect differing sentiments among insiders about the company’s future.
What Casey's General Stores, Inc. Does
Casey's General Stores operates convenience stores across the United States, offering food, beverages, motor fuel, and other products. Founded in 1959 and based in Ankeny, Iowa, the company has grown significantly with over 23,000 employees. Keybanc's reaffirmation of a buy rating points to ongoing confidence in its market strategy.
What's Ahead for Casey's General Stores, Inc.
Investors will be watching the upcoming earnings report on December 8, 2026, for insights into Casey's financial performance. Keybanc's latest rating reflects past holdings as of the reporting period and may not capture current positions. With its competitive market strategies, Casey's General Stores remains a company to watch in the consumer cyclical sector.
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Source: Keybanc's rating change on $CASY (Jun 11, 2026). Written by software, not financial advice. How we make alerts