Yesway (NASDAQ:YSWY) Shares Gap Up – Here’s Why

Shares of Yesway, Inc. (NASDAQ:YSWY) 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 trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on YSWY shares. Weiss Ratings assumed coverage on shares of Yesway in a report on Thursday, July 16th. They issued a “sell (e)” rating for the company. JPMorgan Chase & Co. cut their target price on shares of Yesway from $29.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, June 5th. BMO Capital Markets started coverage on Yesway in a research note on Monday, May 18th. They issued an “outperform” rating and a $30.00 target price for the company. Raymond James Financial began coverage on Yesway in a report on Monday, May 18th. They set an “outperform” rating and a $30.00 target price for the company. Finally, KeyCorp began coverage on Yesway in a report on Monday, May 18th. They issued an “overweight” rating and a $31.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.12.

Yesway Price Performance

The business has a fifty day moving average of $20.96.

Yesway (NASDAQ:YSWY) last announced its earnings results on Thursday, August 13th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.14). The business had revenue of $920.77 million during the quarter. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. Sell-side analysts anticipate that Yesway, Inc. will post 1.22 EPS for the current year.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Yesway stock. Bank of New York Mellon Corp bought a new position in shares of Yesway, Inc. (NASDAQ:YSWY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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 reporting period.

Yesway Company Profile

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.