Yesway (NASDAQ:YSWY) Upgraded to “Strong-Buy” at Zacks Research

Yesway (NASDAQ:YSWY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday, Zacks reports.

Other equities research analysts have also issued research reports about the company. Guggenheim restated a “buy” rating and set a $32.00 price target on shares of Yesway in a research note on Monday, October 5th. JPMorgan Chase & Co. raised their price objective on Yesway from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. William Blair began coverage on shares of Yesway in a research note on Tuesday, September 22nd. They set an “outperform” rating for the company. Finally, Weiss Ratings lowered Yesway from a “sell (e)” rating to a “sell (e-)” rating in a research note on Thursday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.62.

Yesway Price Performance

NASDAQ YSWY opened at $21.64 on Monday. The firm’s 50-day simple moving average is $22.43. Yesway has a one year low of $18.92 and a one year high of $29.08. The company has a current ratio of 1.48, a quick ratio of 0.91 and a debt-to-equity ratio of 0.45.

Yesway (NASDAQ:YSWY) last announced its earnings results on Thursday, August 13th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.14). The business had revenue of $920.77 million during the quarter. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. Analysts predict that Yesway will post 1.50 earnings per share for the current year.

Institutional Investors Weigh In On Yesway

Hedge funds have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new stake in shares of Yesway in the second quarter valued at about $675,000. Bank of New York Mellon Corp purchased a new position in shares of Yesway during the second quarter worth $869,000. State Street Corp purchased a new position in shares of Yesway during the second quarter worth $4,437,000. Finally, Wellington Management Group LLP acquired a new position in Yesway during the 2nd quarter worth about $18,747,000.

Yesway Company Profile

Yesway is a U.S. convenience-store operator that serves customers through a network of locations under the Yesway and Allsup’s brands. Its stores are generally located in communities across the central and western United States and are designed to provide everyday convenience products and services.

The company’s stores typically offer fuel, packaged foods, snacks, beverages, tobacco products, grocery essentials and other convenience merchandise. Many locations also provide prepared foods and quick-service options, with offerings tailored to the markets they serve.

Yesway expanded its presence through the acquisition of Allsup’s in 2019, adding the long-established Allsup’s convenience-store and foodservice business to its operations.