Yesway (NASDAQ:YSWY) Stock Price Down 8.5% – Here’s What Happened

Yesway, Inc. (NASDAQ:YSWY)’s stock price dropped 8.5% during trading on Thursday. The company traded as low as $22.04 and last traded at $23.46. 73,084 shares changed hands 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

Several research analysts have recently commented on YSWY shares. Zacks Research downgraded Yesway from a “strong-buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Yesway from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Guggenheim reissued a “buy” rating and issued a $32.00 price objective on shares of Yesway in a research note on Monday, October 5th. William Blair started coverage on Yesway in a report on Tuesday, September 22nd. They set an “outperform” rating on the stock. Finally, Weiss Ratings cut Yesway from a “sell (e)” rating to a “sell (e-)” rating in a report on Thursday, September 24th. Three equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Yesway currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.62.

Yesway Stock Performance

The company’s 50-day simple moving average is $22.62. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.91 and a current ratio of 1.48. The firm has a market cap of $1.48 billion and a P/E ratio of 111.33.

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

Institutional Investors Weigh In On Yesway

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in Yesway by 51.0% in the third quarter. State Street Corp now owns 330,139 shares of the company’s stock valued at $6,656,000 after acquiring an additional 111,562 shares during the last quarter. Royce & Associates LP grew its position in shares of Yesway by 0.3% in the 3rd 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. State of Alaska Department of Revenue acquired a new position in shares of Yesway during the 3rd quarter worth about $29,000. Engineers Gate Manager LP acquired a new position in shares of Yesway during the 2nd quarter worth about $675,000. Finally, Wellington Management Group LLP bought a new stake in shares of Yesway in the 2nd quarter valued at about $18,747,000.

Yesway Company Profile

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.