YETI (NYSE:YETI) Earns “Overweight” Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of YETI (NYSE:YETI) in a research report sent to investors on Friday,Benzinga reports. They currently have a $54.00 price objective on the stock, down from their prior price objective of $55.00.

A number of other research analysts also recently issued reports on YETI. B. Riley boosted their price objective on shares of YETI from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. Roth Mkm boosted their price objective on shares of YETI from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. TD Cowen boosted their price objective on shares of YETI from $43.00 to $46.00 and gave the company a “hold” rating in a research report on Friday, August 9th. KeyCorp boosted their price objective on shares of YETI from $36.00 to $38.00 and gave the company an “underweight” rating in a research report on Friday, August 9th. Finally, Bank of America downgraded shares of YETI from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $55.00 to $40.00 in a research report on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.62.

YETI Price Performance

YETI traded down $0.21 on Friday, reaching $38.66. The company had a trading volume of 3,143,303 shares, compared to its average volume of 1,617,650. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.29. YETI has a 52-week low of $33.41 and a 52-week high of $54.15. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 17.89, a P/E/G ratio of 1.05 and a beta of 2.12. The business has a 50 day simple moving average of $38.73 and a 200 day simple moving average of $39.11.

YETI (NYSE:YETI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.06. YETI had a net margin of 10.66% and a return on equity of 28.83%. The firm had revenue of $463.50 million during the quarter, compared to analyst estimates of $452.42 million. During the same period in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was up 15.1% on a year-over-year basis. As a group, sell-side analysts anticipate that YETI will post 2.35 EPS for the current year.

Hedge Funds Weigh In On YETI

Institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in YETI in the 3rd quarter worth approximately $1,415,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in YETI in the 3rd quarter worth approximately $2,849,000. Quest Partners LLC increased its holdings in YETI by 271.6% in the 3rd quarter. Quest Partners LLC now owns 8,283 shares of the company’s stock worth $340,000 after acquiring an additional 6,054 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in YETI by 29.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 26,747 shares of the company’s stock worth $1,097,000 after acquiring an additional 6,152 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in YETI by 17.3% in the 3rd quarter. Royce & Associates LP now owns 585,971 shares of the company’s stock worth $24,042,000 after acquiring an additional 86,405 shares in the last quarter.

YETI Company Profile

YETI Holdings, Inc designs, retails, and distributes products for the outdoor and recreation market under the YETI brand. It offers coolers and equipment, including hard and soft coolers, cargo, bags, outdoor living, and associated accessories, as well as backpacks, duffel bags, luggage, packing cubes, carryalls, camp chairs, blankets, dog beds, dog bowls, and gear cases under the LoadOut, Panga, Crossroads, Camino, Hondo Base, Trailhead, Lowlands, Boomer, and SideKick Dry brands.