YETI (NYSE:YETI – Get Rating) was downgraded by equities researchers at Cowen from an "outperform" rating to a "market perform" rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $47.00 target price on the stock. Cowen's target price would indicate a potential upside of 12.01% from the company's previous close.
Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity Group started coverage on YETI in a report on Wednesday, November 16th. They issued a "buy" rating and a $58.00 target price for the company. Cowen cut YETI from an "outperform" rating to a "market perform" rating and set a $47.00 price objective for the company. in a research note on Wednesday. Piper Sandler upped their price objective on YETI from $48.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, November 11th. Canaccord Genuity Group assumed coverage on YETI in a research note on Thursday, November 17th. They set a "buy" rating and a $58.00 price objective for the company. Finally, Credit Suisse Group upped their price objective on YETI to $62.00 in a research note on Wednesday, November 16th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $57.67.
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YETI Price Performance
Shares of YETI stock opened at $41.96 on Wednesday. YETI has a twelve month low of $27.86 and a twelve month high of $71.33. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.13 and a beta of 2.51. The stock has a fifty day simple moving average of $42.83 and a two-hundred day simple moving average of $39.94. The company has a current ratio of 2.34, a quick ratio of 0.74 and a debt-to-equity ratio of 0.14.
YETI (NYSE:YETI – Get Rating) last issued its earnings results on Thursday, November 10th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.04. YETI had a return on equity of 40.06% and a net
margin of 11.97%. The business had revenue of $433.56 million during the quarter, compared to analysts' expectations of $417.76 million. On average, analysts predict that YETI will post 2.21 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. Crossmark Global Holdings Inc. increased its holdings in shares of YETI by 23.3% in the fourth quarter. Crossmark Global Holdings Inc. now owns 14,334 shares of the company's stock valued at $592,000 after purchasing an additional 2,704 shares during the period. Congress Asset Management Co. MA acquired a new position in shares of YETI in the fourth quarter valued at about $17,844,000. Maryland State Retirement & Pension System acquired a new position in shares of YETI in the fourth quarter valued at about $269,000. Handelsinvest Investeringsforvaltning increased its holdings in shares of YETI by 2.5% in the fourth quarter. Handelsinvest Investeringsforvaltning now owns 172,227 shares of the company's stock valued at $7,114,000 after purchasing an additional 4,146 shares during the period. Finally, Bath Savings Trust Co acquired a new stake in YETI during the fourth quarter worth about $225,000. 94.24% of the stock is owned by institutional investors and hedge funds.
YETI Company Profile
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YETI Holdings, Inc engages in the design, marketing, and distribution of products for the outdoor and recreation market. Its products include coolers, drinkware, travel bags, backpacks, multipurpose buckets, outdoor chairs, blankets, dog bowls, apparel, and accessories. The company was founded by Roy J.
Further Reading
- Get a free copy of the StockNews.com research report on YETI (YETI)
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