YETI’s (YETI) “Overweight” Rating Reiterated at Piper Sandler

YETI (NYSE:YETI)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They currently have a $54.00 target price on the stock, up from their previous target price of $52.00. Piper Sandler’s target price would indicate a potential upside of 35.47% from the company’s current price.

Several other brokerages also recently commented on YETI. KeyCorp increased their price target on YETI from $33.00 to $36.00 and gave the company an “underweight” rating in a report on Friday, January 12th. Canaccord Genuity Group lowered their price target on YETI from $41.00 to $40.00 and set a “hold” rating on the stock in a report on Friday, April 5th. Stifel Nicolaus lowered their price target on YETI from $43.00 to $41.00 and set a “hold” rating on the stock in a report on Friday, February 16th. William Blair reissued an “outperform” rating on shares of YETI in a research report on Wednesday, May 1st. Finally, Raymond James reduced their price objective on YETI from $55.00 to $48.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $47.50.

YETI Stock Up 1.5 %

NYSE:YETI traded up $0.60 during mid-day trading on Friday, reaching $39.86. The stock had a trading volume of 640,001 shares, compared to its average volume of 1,716,693. The business’s 50 day moving average is $37.49 and its 200 day moving average is $42.27. YETI has a fifty-two week low of $33.88 and a fifty-two week high of $54.15. The stock has a market cap of $3.40 billion, a P/E ratio of 20.44, a PEG ratio of 1.37 and a beta of 2.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.30 and a quick ratio of 1.45.

YETI (NYSE:YETI) last released its quarterly earnings data on Thursday, February 15th. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.06). YETI had a return on equity of 27.99% and a net margin of 10.24%. The firm had revenue of $519.79 million during the quarter, compared to analyst estimates of $535.99 million. During the same quarter in the prior year, the company posted $0.75 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. As a group, sell-side analysts predict that YETI will post 2.27 earnings per share for the current year.

Institutional Trading of YETI

Hedge funds and other institutional investors have recently made changes to their positions in the business. Baillie Gifford & Co. increased its position in YETI by 53.0% in the fourth quarter. Baillie Gifford & Co. now owns 9,416,441 shares of the company’s stock worth $487,583,000 after purchasing an additional 3,260,704 shares during the period. Vanguard Group Inc. increased its position in YETI by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 8,209,349 shares of the company’s stock worth $425,080,000 after purchasing an additional 126,154 shares during the period. Franklin Resources Inc. increased its position in YETI by 18.7% in the fourth quarter. Franklin Resources Inc. now owns 3,999,412 shares of the company’s stock worth $207,090,000 after purchasing an additional 629,287 shares during the period. Lord Abbett & CO. LLC increased its position in YETI by 97.3% in the third quarter. Lord Abbett & CO. LLC now owns 1,517,821 shares of the company’s stock worth $73,189,000 after purchasing an additional 748,671 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in YETI by 8.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,268,521 shares of the company’s stock worth $65,687,000 after purchasing an additional 103,732 shares during the period.

YETI Company Profile

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.