Jefferies Remains Sidelined on Casey's General Stores (CASY) Following Mixed 4Q

Jefferies maintained a Hold rating and $102.00 price target on Casey's General Stores (NASDAQ: CASY) following the company's 4Q earnings report. EBIT came in light at $80M compared to the consensus of $84M. EPS were reported at $1.19 slightly below $1.22 consensus.

Analyst Christopher Mandeville commented, "CASY reported in-linish 4Q16 EPS; however, earnings quality was questionable as EBIT missed our ests. by $3M (cons. by $4M) and a lower tax rate provided a nickel to EPS vs. our ests. More importantly, F2017 guidance provided a mixed bag in our view. Given that shares trade near peak multiple of 10x EV/EBITDA, and a lack of upside surprise vs. investor expectations, we anticipate share weakness upon mkt. open."

For an analyst ratings summary and ratings history on Casey's General Stores click here. For more ratings news on Casey's General Stores click here.

Shares of Casey's General Stores closed at $123.77 yesterday.

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