Yesway (NASDAQ:YSWY) Sets New 12-Month Low - Here's What Happened

Key Points

• Yesway shares hit a new 52-week low of $18.92 during Monday trading, closing last at $19.49 and remaining below the 50-day moving average of $22.40.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $29.62, despite Weiss Ratings downgrading the stock to “sell (e-).”
• Yesway reported quarterly earnings of $0.21 per share, missing estimates of $0.35, while revenue increased 35.9% year over year to $920.77 million.

Yesway, Inc. (NASDAQ:YSWY - Get Free Report) hit a new 52-week low during mid-day trading on Monday. The company traded as low as $18.92 and last traded at $19.49, with a volume of 72984 shares changing hands. The stock had previously closed at $19.32.

Analysts Set New Price Targets

Several research firms have commented on YSWY. Weiss Ratings downgraded Yesway from a "sell (e)" rating to a "sell (e-)" rating in a research note on Thursday. Guggenheim reaffirmed a "buy" rating and set a $32.00 price target on shares of Yesway in a report on Thursday, September 17th. William Blair started coverage on shares of Yesway in a research report on Tuesday, September 22nd. They issued an "outperform" rating on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Yesway from $25.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. Three 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.62.

Yesway Stock Up 1.1%

The firm has a fifty day moving average price of $22.40. 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 stock has a market cap of $1.23 billion and a price-to-earnings ratio of 93.05.

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 business had revenue of $920.77 million during the quarter. The company's revenue was up 35.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Yesway, Inc. will post 1.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Yesway

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

Yesway Company Profile

Yesway is a privately held American convenience-store operator that owns and operates stores under the Yesway and Allsup's brands. The company's locations serve motorists and local communities by offering fuel, prepared food, beverages, snacks, tobacco products, groceries, lottery products and other convenience items.

Founded in 2015, Yesway expanded through acquisitions, including its 2019 purchase of Allsup's, a long-established convenience-store chain based in the Southwest. The company operates stores primarily across the central and southwestern United States, including Texas, New Mexico and other neighboring states.

Yesway is associated with Brookwood Financial Partners and is led by Chief Executive Officer Thomas Trkla.

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