Yesway, Inc.'s (NASDAQ:YSWY) Lock-Up Period To End on October 19th

Key Points

• Yesway’s lock-up period expires October 19, allowing insiders and major shareholders to sell shares issued in the company’s 14-million-share, $280 million IPO.
• Analyst sentiment is broadly positive: Yesway has a consensus “Moderate Buy” rating and an average price target of $29.62, despite mixed individual recommendations.
• The stock opened at $20.72, while the company’s latest quarterly earnings of $0.21 per share missed estimates of $0.35; revenue nevertheless rose 35.9% year over year to $920.77 million.

Yesway's (NASDAQ:YSWY - Get Free Report) lock-up period is set to expire on Monday, October 19th. Yesway had issued 14,000,000 shares in its initial public offering on April 22nd. The total size of the offering was $280,000,000 based on an initial share price of $20.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

YSWY has been the topic of a number of recent analyst reports. William Blair began coverage on shares of Yesway in a research report on Tuesday, September 22nd. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. lifted their price target on shares of Yesway from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, August 14th. Weiss Ratings cut shares of Yesway from a "sell (e)" rating to a "sell (e-)" rating in a research report on Thursday, September 24th. Finally, Guggenheim restated a "buy" rating and issued a $32.00 price objective on shares of Yesway in a research note on Monday, October 5th. Three equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Yesway currently has a consensus rating of "Moderate Buy" and an average target price of $29.62.

Yesway Price Performance

YSWY stock opened at $20.72 on Monday. The firm has a fifty day simple moving average of $22.44. Yesway has a 12 month low of $18.92 and a 12 month high of $29.08. The stock has a market cap of $1.31 billion and a P/E ratio of 98.67. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.48.

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

Hedge Funds Weigh In On Yesway

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in shares of Yesway in the 2nd quarter valued at approximately $18,747,000. State Street Corp purchased a new stake in shares of Yesway during the second quarter worth approximately $4,437,000. Bank of New York Mellon Corp purchased a new stake in shares of Yesway during the second quarter worth approximately $869,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Yesway during the second quarter worth $675,000.

About Yesway

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.

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