Should You Invest in Casey's Stock Despite Its Premium Valuation?

Casey's General Stores, Inc. (CASY) is currently trading at a forward 12-month price-to-earnings (P/E) multiple of 26.09X, which positions it at a premium compared with the industry and the S&P 500’s averages of 22.68X and 22.23X, respectively. The stock is also trading above its median P/E level of 25.5X observed over the past year. The valuation suggests that Casey’s is overvalued. Image Source: Zacks Investment Research However, CASY stock has witnessed some correction, given its elevated valuation. Over ...