Yesway (NASDAQ:YSWY) Shares Gap Up - Still a Buy?

Key Points

• Yesway shares opened sharply higher, rising from a prior close of $21.88 to $23.76 before later trading at $21.76; the stock was up 11.5% and above its 50-day moving average.
• Analyst coverage was generally positive, with a consensus rating of “Moderate Buy” and an average price target of $29.12, although Weiss Ratings issued a “Sell” rating.
• Yesway reported quarterly EPS of $0.21, missing the $0.35 consensus estimate, while revenue increased 35.9% year over year to $920.77 million.

Yesway, Inc. (NASDAQ:YSWY - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $21.88, but opened at $23.76. Yesway shares last traded at $21.76, with a volume of 30,176 shares.

Analysts Set New Price Targets

YSWY has been the subject of several recent research reports. BMO Capital Markets started coverage on shares of Yesway in a research report on Monday, May 18th. They issued an "outperform" rating and a $30.00 price objective for the company. Raymond James Financial initiated coverage on shares of Yesway in a research note on Monday, May 18th. They issued an "outperform" rating and a $30.00 target price for the company. The Goldman Sachs Group started coverage on shares of Yesway in a report on Monday, May 18th. They set a "neutral" rating and a $28.00 price target for the company. Morgan Stanley started coverage on shares of Yesway in a report on Monday, May 18th. They issued an "equal weight" rating and a $28.00 price objective on the stock. Finally, Weiss Ratings initiated coverage on shares of Yesway in a research report on Thursday, July 16th. They issued a "sell (e)" rating for the company. Three research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.12.

Yesway Trading Up 11.5%

The business's 50 day simple moving average is $20.96.

Yesway (NASDAQ:YSWY - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.14). The company had revenue of $920.77 million during the quarter. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Yesway, Inc. will post 1.22 EPS for the current year.

Institutional Investors Weigh In On Yesway

An institutional investor recently bought a new stake in Yesway stock. Bank of New York Mellon Corp purchased a new stake in shares of Yesway, Inc. (NASDAQ:YSWY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 42,832 shares of the company's stock, valued at approximately $869,000. Bank of New York Mellon Corp owned approximately 0.07% of Yesway at the end of the most recent quarter.

About Yesway

Yesway, traded on NASDAQ under the ticker YSWY, is a U.S.-based convenience store and fuel retail company that operates retail locations under the Yesway brand. The company's core business is the operation of neighborhood convenience stores that provide quick-purchase retail items, on-site prepared foods, beverages and other convenience merchandise. Many locations also feature fuel dispensing, making Yesway a combined convenience and gasoline retailer for everyday consumers and motorists.

Yesway's stores focus on high-turnover product categories typical of the convenience-retail sector, including snacks, cold beverages, coffee, single-serve and prepared food offerings, and commonly purchased household items.

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