The shares of Casey's General Stores Inc (NASDAQ:CASY) are up 3% to trade at $684.13 at last glance, brushing off the company's fiscal third-quarter revenue miss of $3.92 billion, compared to the $4.04 billion estimate. The company also issued quarterly win of $3.49 and a 4% same-store sales increase, with RBC chiming in with a price-target hike to $713 from $622.
CASY is on track to snap a three-day losing streak, bouncing off after a pullback from its Feb. 27 record high of $690. Shares look to be enjoying support from the 50-day moving average, a trendline that captured yesterday's pullback as well as one in late December.
Analysts already lean optimistic toward CASY. Currently, 10 of the 17 brokerages in cover sport a "strong buy" recommendation. Plus, short interest shed 6.7% in the most recent reporting period.
Options traders are already chiming in. Albeit amid light absolute volume, at last check more than 292 calls and 418 puts have changed hands, volume that's 12 times the average intraday amount. The March 500 put is the most popular, with contracts being sold-to-open here.
