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Should Value Investors Buy Casey's General Stores (CASY) Stock?

Zacks Equity Research

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.

Casey's General Stores (CASY) is a stock many investors are watching right now. CASY is currently sporting a Zacks Rank of #2 (Buy) and an A for Value. The stock is trading with P/E ratio of 23.43 right now. For comparison, its industry sports an average P/E of 24.62. Over the past 52 weeks, CASY's Forward P/E has been as high as 28.63 and as low as 22.94, with a median of 25.61.

CASY is also sporting a PEG ratio of 2.58. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. CASY's PEG compares to its industry's average PEG of 2.71. CASY's PEG has been as high as 3.24 and as low as 2.32, with a median of 2.81, all within the past year.

Value investors will likely look at more than just these metrics, but the above data helps show that Casey's General Stores is likely undervalued currently. And when considering the strength of its earnings outlook, CASY sticks out at as one of the market's strongest value stocks.

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