Yesway (NASDAQ:YSWY) Stock Gets Downgrade from Zacks Research

Yesway (NASDAQ:YSWY) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday, Zacks reports.

Several other analysts have also commented on the company. Weiss Ratings lowered Yesway from a “sell (e)” rating to a “sell (e-)” rating in a research note on Thursday, September 24th. Guggenheim reiterated a “buy” rating and set a $32.00 price objective on shares of Yesway in a research note on Monday, October 5th. JPMorgan Chase & Co. lifted their price objective on Yesway from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, August 14th. Finally, William Blair assumed coverage on shares of Yesway in a research note on Tuesday, September 22nd. They issued an “outperform” rating on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.62.

Yesway Trading Down 0.5%

YSWY stock opened at $25.65 on Tuesday. Yesway has a 1-year low of $18.92 and a 1-year high of $29.08. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.48. The firm has a 50 day moving average of $22.62. The company has a market cap of $1.62 billion and a price-to-earnings ratio of 122.14.

Yesway (NASDAQ:YSWY) last posted its earnings results on Thursday, August 13th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.14). The company had revenue of $920.77 million during the quarter. The company’s quarterly revenue was up 35.9% on a year-over-year basis. Sell-side analysts forecast that Yesway will post 1.50 EPS for the current year.

Institutional Trading of Yesway

Several hedge funds have recently modified their holdings of YSWY. State Street Corp acquired a new stake in shares of Yesway during the second quarter worth approximately $4,437,000. Wellington Management Group LLP bought a new position in shares of Yesway in the second quarter valued at approximately $18,747,000. Engineers Gate Manager LP acquired a new position in shares of Yesway in the 2nd quarter worth approximately $675,000. Bank of New York Mellon Corp acquired a new position in shares of Yesway in the 2nd quarter worth approximately $869,000. Finally, Royce & Associates LP boosted its holdings in shares of Yesway by 0.3% in the 3rd quarter. Royce & Associates LP now owns 1,498,952 shares of the company’s stock worth $30,219,000 after acquiring an additional 5,003 shares in the last quarter.

About Yesway

Yesway is a convenience-store operator serving customers across the central and southwestern United States. Its stores sell fuel, beverages, snacks, grocery and household essentials, along with prepared foods and other convenience items. The company operates under the Yesway and Allsup’s brands. Yesway was established in 2015, and its 2019 acquisition of Allsup’s expanded its presence and added a long-running convenience-store brand known for its prepared food, including burritos. Yesway and Allsup’s locations serve communities in states including Texas, New Mexico, Oklahoma, Kansas and Iowa, as well as other nearby markets.