Yesway (NASDAQ:YSWY) Stock Falls 8.5% - Here's Why

Key Points

• Yesway shares fell 8.5% to $23.46 in Thursday midday trading, while volume was 82% below the average session volume.
• Analyst views were mixed: Zacks Research downgraded the stock from Strong Buy to Hold, while the consensus rating remained Moderate Buy with an average price target of $29.62.
• Yesway reported quarterly EPS of $0.34, beating the $0.30 estimate, and revenue of $969.15 million, up 35.4% year over year.

Yesway, Inc. (NASDAQ:YSWY - Get Free Report)'s stock price fell 8.5% during mid-day trading on Thursday. The stock traded as low as $22.04 and last traded at $23.46. 73,084 shares were traded during mid-day trading, a decline of 82% from the average session volume of 398,281 shares. The stock had previously closed at $25.65.

Analyst Ratings Changes

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

Yesway Stock Down 8.8%

The company has a debt-to-equity ratio of 0.45, a current ratio of 1.48 and a quick ratio of 0.91. The company has a market capitalization of $1.48 billion and a PE ratio of 111.33. The business's 50-day moving average is $22.62.

Yesway (NASDAQ:YSWY - Get Free Report) last posted its earnings results on Thursday, November 12th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $969.15 million during the quarter. The firm's quarterly revenue was up 35.4% compared to the same quarter last year. As a group, equities research analysts forecast that Yesway, Inc. will post 1.50 EPS for the current year.

Institutional Trading of Yesway

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

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.

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