YETI (NYSE:YETI) Sets New 1-Year Low – Here’s What Happened

YETI Holdings, Inc. (NYSE:YETI)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $33.17 and last traded at $33.37, with a volume of 345984 shares changing hands. The stock had previously closed at $33.98.

Analyst Ratings Changes

YETI has been the topic of several recent analyst reports. UBS Group dropped their price objective on YETI from $44.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Morgan Stanley dropped their price objective on YETI from $48.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Canaccord Genuity Group dropped their price objective on YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. KeyCorp dropped their price objective on YETI from $36.00 to $35.00 and set an “underweight” rating on the stock in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus dropped their price objective on YETI from $45.00 to $40.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. One equities research 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, YETI has a consensus rating of “Hold” and a consensus price target of $44.77.

YETI Price Performance

The firm has a 50 day moving average price of $36.96 and a 200 day moving average price of $38.65. The company has a quick ratio of 1.36, a current ratio of 2.18 and a debt-to-equity ratio of 0.10. The stock has a market cap of $2.65 billion, a P/E ratio of 15.64, a P/E/G ratio of 1.05 and a beta of 2.15.

YETI (NYSE:YETI) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.93 by ($0.06). YETI had a return on equity of 28.23% and a net margin of 9.60%. The company had revenue of $555.37 million during the quarter, compared to the consensus estimate of $554.08 million. On average, analysts forecast that YETI Holdings, Inc. will post 2.57 EPS for the current fiscal year.

Institutional Trading of YETI

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its stake in YETI by 16.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 436,810 shares of the company’s stock valued at $17,922,000 after purchasing an additional 62,619 shares during the period. Algert Global LLC raised its stake in YETI by 443.0% during the 3rd quarter. Algert Global LLC now owns 47,550 shares of the company’s stock valued at $1,951,000 after purchasing an additional 38,793 shares during the period. Truist Financial Corp raised its stake in YETI by 304.2% during the 4th quarter. Truist Financial Corp now owns 28,501 shares of the company’s stock valued at $1,098,000 after purchasing an additional 21,450 shares during the period. Qsemble Capital Management LP raised its stake in YETI by 320.3% during the 3rd quarter. Qsemble Capital Management LP now owns 26,576 shares of the company’s stock valued at $1,090,000 after purchasing an additional 20,253 shares during the period. Finally, Intech Investment Management LLC bought a new stake in YETI in the 3rd quarter worth approximately $1,415,000.

About YETI

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.