Casey's General Stores Has Fallen 10% Since Reporting Earnings. Is It a Buy in November?

Casey's General Stores stock dropped 10% after reporting fiscal Q1 2027 earnings despite strong top and bottom-line results. While earnings rose 27% year-over-year and same-store sales grew 3.2%, the growth rate was the lowest in five quarters. The stock remains expensive with a P/S ratio of 1.3x (vs. 5-year average of 0.8x) and P/E of 32x (vs. 5-year average of 26x), suggesting investors have priced in high expectations that the company is failing to exceed.