Opinions
Jim Lebenthal
Caseys General Store
CASY-Q
HOLD
Jun 07, 2024
$328.910
Stock price when the opinion was issued
specialty stores
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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research
CASY is $16B market cap, up 12% this year and up 32% over 52 weeks. P/E is 31X, dividend 0.45%. Debt is about 2.5X cash flow but cash flow is good, and growing. EPS has nearly tripled since 2019. It is a well-run business and the stock is up nearly 400% in the past decade. The last quarter was solid and ahead of estimates. Same store sales rose 3.7%, though gasoline sales declined, largely due to pricing. We would be quite comfortable owning this.
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specialty stores
They report Tuesday. Share have flown along with good operations, which he expects to continue. Given the current valuation, he doesn't expect much upside, but remains positive.