YETI (NYSE:YETI) Price Target Cut to $34.00 by Analysts at Stifel Nicolaus

YETI (NYSE:YETI) had its target price reduced by analysts at Stifel Nicolaus from $40.00 to $34.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 17.75% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. KeyCorp cut their price target on YETI from $36.00 to $35.00 and set an “underweight” rating for the company in a research note on Wednesday, January 8th. Morgan Stanley reduced their target price on shares of YETI from $48.00 to $45.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Canaccord Genuity Group dropped their price target on shares of YETI from $44.00 to $42.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Finally, UBS Group decreased their price objective on shares of YETI from $44.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.31.

YETI Stock Down 6.6 %

Shares of YETI stock traded down $2.03 during trading on Thursday, hitting $28.88. 483,531 shares of the company were exchanged, compared to its average volume of 1,662,338. The business’s 50-day simple moving average is $34.59 and its 200 day simple moving average is $37.64. YETI has a twelve month low of $26.66 and a twelve month high of $45.25. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 1.05 and a beta of 2.04. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.36 and a current ratio of 2.18.

YETI (NYSE:YETI) last issued its earnings results on Thursday, February 13th. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.06). YETI had a net margin of 9.60% and a return on equity of 28.23%. The company had revenue of $555.37 million for the quarter, compared to analyst estimates of $554.08 million. As a group, analysts forecast that YETI will post 2.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gates Capital Management Inc. bought a new position in YETI during the fourth quarter valued at about $135,356,000. Brown Advisory Inc. acquired a new position in shares of YETI in the fourth quarter valued at $40,496,000. Westwood Holdings Group Inc. bought a new stake in YETI in the 4th quarter valued at $37,098,000. Norges Bank acquired a new position in shares of YETI in the 4th quarter valued at $36,778,000. Finally, Nomura Holdings Inc. lifted its holdings in shares of YETI by 595.8% during the 4th quarter. Nomura Holdings Inc. now owns 595,154 shares of the company’s stock worth $22,919,000 after acquiring an additional 509,616 shares during the period.

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.