Yesway (NASDAQ:YSWY) Stock Rating Raised to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Yesway (NASDAQ:YSWY) from a hold rating to a strong-buy rating in a research note issued to investors on Monday,Zacks reports.

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

Yesway Stock Up 2.4%

NASDAQ:YSWY opened at $21.64 on Monday. The firm’s fifty day moving average price is $22.43. Yesway has a 52 week low of $18.92 and a 52 week high of $29.08. The company has a quick ratio of 0.91, a current ratio of 1.48 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.37 billion and a price-to-earnings ratio of 103.05.

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

Hedge Funds Weigh In On Yesway

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp bought a new position in Yesway in the second quarter worth about $4,437,000. Engineers Gate Manager LP bought a new stake in Yesway during the 2nd quarter valued at approximately $675,000. Wellington Management Group LLP bought a new stake in Yesway during the 2nd quarter valued at approximately $18,747,000. Finally, Bank of New York Mellon Corp bought a new stake in Yesway during the 2nd quarter valued at approximately $869,000.

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.