YETI (NYSE:YETI – Get Rating) was downgraded by equities research analysts at Bank of America from a “buy” rating to a “neutral” rating in a report issued on Thursday, Briefing.com reports. They currently have a $50.00 price objective on the stock, down from their previous price objective of $85.00. Bank of America’s price objective would indicate a potential upside of 12.44% from the stock’s previous close.
Several other equities research analysts also recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of YETI from $65.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, July 21st. Citigroup dropped their target price on shares of YETI from $83.00 to $65.00 in a report on Thursday, May 12th. Morgan Stanley cut their price target on YETI from $64.00 to $60.00 in a report on Thursday, May 12th. KeyCorp downgraded YETI to a “sector weight” rating in a report on Tuesday, July 19th. Finally, Cowen reduced their price target on YETI to $59.00 in a report on Monday, July 25th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.88.
YETI Trading Down 18.2 %
Shares of YETI traded down $9.89 during midday trading on Thursday, hitting $44.47. The stock had a trading volume of 120,433 shares, compared to its average volume of 1,083,116. The company has a current ratio of 1.82, a quick ratio of 0.64 and a debt-to-equity ratio of 0.20. The firm has a market cap of $3.83 billion, a P/E ratio of 19.09, a price-to-earnings-growth ratio of 1.17 and a beta of 2.42. The business has a 50-day simple moving average of $46.29 and a two-hundred day simple moving average of $53.76. YETI has a fifty-two week low of $38.77 and a fifty-two week high of $108.82.
YETI (NYSE:YETI – Get Rating) last issued its quarterly earnings data on Wednesday, May 11th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.02. The firm had revenue of $293.63 million for the quarter, compared to analyst estimates of $290.13 million. YETI had a net margin of 14.26% and a return on equity of 47.22%. During the same quarter last year, the firm earned $0.35 earnings per share. As a group, equities analysts forecast that YETI will post 2.71 EPS for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. CWM LLC acquired a new position in shares of YETI during the 4th quarter worth about $26,000. UMB Bank N A MO purchased a new position in shares of YETI during the 4th quarter worth approximately $28,000. Global Wealth Management Investment Advisory Inc. boosted its position in YETI by 1,217.6% in the 4th quarter. Global Wealth Management Investment Advisory Inc. now owns 448 shares of the company’s stock valued at $37,000 after buying an additional 414 shares during the period. Fifth Third Bancorp lifted its position in shares of YETI by 79.3% during the 1st quarter. Fifth Third Bancorp now owns 579 shares of the company’s stock worth $35,000 after purchasing an additional 256 shares during the last quarter. Finally, Signaturefd LLC raised its stake in YETI by 61.4% during the 1st quarter. Signaturefd LLC now owns 581 shares of the company’s stock worth $35,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 96.33% of the company’s stock.
About YETI
YETI Holdings, Inc designs, markets, retails, and distributes products for the outdoor and recreation market under the YETI brand. The company offers hard and soft coolers, as well as cargo, bags, outdoor living, and associated accessories. It also provides drinkware products, such as colsters, lowballs, wine tumblers, stackable pints, mugs, tumblers, bottles, and jugs, as well as accessories comprising bottle straw caps, tumbler handles, jug mounts, and bottle slings under the Rambler brand.