Yesway, Inc.’s Lock-Up Period To End on October 19th (NASDAQ:YSWY)

Yesway’s (NASDAQ:YSWY) lock-up period is set to end on Monday, October 19th. Yesway had issued 14,000,000 shares in its public offering on April 22nd. The total size of the offering was $280,000,000 based on an initial share price of $20.00. After the expiration of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on YSWY shares. Zacks Research raised Yesway from a “hold” rating to a “strong-buy” rating in a report on Monday. JPMorgan Chase & Co. upped 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. Weiss Ratings downgraded Yesway from a “sell (e)” rating to a “sell (e-)” rating in a report on Thursday, September 24th. William Blair started coverage on Yesway in a report on Tuesday, September 22nd. They issued an “outperform” rating on the stock. Finally, Guggenheim reissued a “buy” rating and issued a $32.00 target price on shares of Yesway in a research report on Monday, October 5th. Four research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Yesway presently has a consensus rating of “Moderate Buy” and an average target price of $29.62.

Yesway Trading Up 5.6%

Shares of NASDAQ YSWY opened at $22.72 on Friday. The firm’s 50 day simple moving average is $22.45. 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 $1.44 billion and a price-to-earnings ratio of 108.19. Yesway has a 12-month low of $18.92 and a 12-month high of $29.08.

Yesway (NASDAQ:YSWY) last announced its 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 business had revenue of $920.77 million for the quarter. The company’s revenue was up 35.9% compared to the same quarter last year. Sell-side analysts predict that Yesway will post 1.50 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in YSWY. State of Alaska Department of Revenue purchased a new position in shares of Yesway in the third quarter worth $29,000. Engineers Gate Manager LP bought a new stake in Yesway in the 2nd quarter valued at $675,000. Bank of New York Mellon Corp bought a new stake in Yesway in the 2nd quarter valued at $869,000. State Street Corp bought a new position in shares of Yesway during the 2nd quarter valued at about $4,437,000. Finally, Wellington Management Group LLP bought a new position in shares of Yesway during the 2nd quarter valued at about $18,747,000.

About Yesway

Yesway is a U.S. convenience-store operator that serves customers through a network of locations under the Yesway and Allsup’s brands. Its stores are generally located in communities across the central and western United States and are designed to provide everyday convenience products and services.

The company’s stores typically offer fuel, packaged foods, snacks, beverages, tobacco products, grocery essentials and other convenience merchandise. Many locations also provide prepared foods and quick-service options, with offerings tailored to the markets they serve.

Yesway expanded its presence through the acquisition of Allsup’s in 2019, adding the long-established Allsup’s convenience-store and foodservice business to its operations.