YETI (NYSE:YETI) Given New $48.00 Price Target at Stifel Nicolaus

YETI (NYSE:YETI) had its price objective cut by Stifel Nicolaus from $50.00 to $48.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on YETI. Wall Street Zen downgraded YETI from a “buy” rating to a “hold” rating in a report on Saturday, November 7th. UBS Group set a $44.00 price target on YETI in a research note on Thursday, October 15th. Raymond James Financial reaffirmed an “outperform” rating on shares of YETI in a research report on Thursday. Weiss Ratings upgraded shares of YETI from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Piper Sandler cut shares of YETI from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $58.00 to $39.00 in a research note on Friday. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, YETI currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.67.

YETI Stock Performance

Shares of NYSE YETI traded up $1.04 during midday trading on Friday, hitting $39.34. 4,652,515 shares of the stock traded hands, compared to its average volume of 1,810,075. The firm has a 50-day moving average of $42.09 and a two-hundred day moving average of $43.84. The firm has a market capitalization of $2.87 billion, a P/E ratio of 16.33, a PEG ratio of 1.01 and a beta of 1.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 1.77. YETI has a one year low of $34.90 and a one year high of $53.99.

YETI (NYSE:YETI) last released its quarterly earnings results on Thursday, November 12th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.07. YETI had a return on equity of 27.19% and a net margin of 9.39%. The firm had revenue of $509.42 million for the quarter, compared to the consensus estimate of $523.07 million. During the same period last year, the business posted $0.48 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities analysts forecast that YETI will post 2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On YETI

Several institutional investors and hedge funds have recently bought and sold shares of YETI. Bank of New York Mellon Corp purchased a new stake in YETI in the 2nd quarter worth $57,971,000. Quantinno Capital Management LP raised its holdings in YETI by 46.0% during the first quarter. Quantinno Capital Management LP now owns 1,871,188 shares of the company’s stock valued at $68,467,000 after acquiring an additional 589,205 shares during the period. GW&K Investment Management LLC raised its holdings in YETI by 952.4% during the third quarter. GW&K Investment Management LLC now owns 571,513 shares of the company’s stock valued at $23,444,000 after acquiring an additional 517,208 shares during the period. Handelsbanken Fonder AB lifted its position in shares of YETI by 165.5% in the second quarter. Handelsbanken Fonder AB now owns 482,858 shares of the company’s stock valued at $23,930,000 after acquiring an additional 300,958 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of YETI by 2,858.7% in the first quarter. Empowered Funds LLC now owns 289,125 shares of the company’s stock valued at $10,579,000 after acquiring an additional 279,353 shares in the last quarter.

Top YETI Stories

These are some of the YETI stories that stood out recently:

• Positive Sentiment: Third-quarter EPS was $0.91, above the roughly $0.84 consensus, while adjusted sales rose 6% to $518 million. International sales increased 19% to $119 million, offering a bright spot. Article: YETI: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Several firms cut price targets, but many maintained bullish ratings: Citigroup and Stifel kept “buy,” while Roth Capital, KeyCorp and Baird also retained positive ratings. The lower targets nevertheless reflect more cautious expectations. Citigroup rating
• Negative Sentiment: Piper Sandler downgraded YETI from “overweight” to “neutral” and cut its price target to $39 from $58. Canaccord also moved to “hold,” while multiple other analysts reduced targets, reinforcing the cautious outlook. Piper Sandler rating

YETI Company Profile

YETI Holdings, Inc. designs, markets and distributes premium outdoor products. Founded in 2006 by brothers Roy and Ryan Seiders, the company is headquartered in Austin, Texas. Its product lineup includes hard and soft coolers, insulated drinkware, bags, outdoor and camping equipment, and related accessories. YETI sells through its website, company-operated stores and a network of retail partners. The company serves customers in the United States and international markets, including Canada, Europe, Australia and parts of Asia.